Allied Investment Advisors LLC Trims Stake in AAON, Inc. (NASDAQ:AAON)

Allied Investment Advisors LLC decreased its position in AAON, Inc. (NASDAQ:AAON) by 16.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 123,983 shares of the construction company’s stock after selling 24,215 shares during the quarter. AAON comprises 2.9% of Allied Investment Advisors LLC’s holdings, making the stock its 8th largest position. Allied Investment Advisors LLC’s holdings in AAON were worth $14,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pembroke Management LTD lifted its stake in shares of AAON by 37.3% in the 4th quarter. Pembroke Management LTD now owns 228,398 shares of the construction company’s stock valued at $26,878,000 after acquiring an additional 62,037 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of AAON during the fourth quarter valued at approximately $8,524,000. CIBC Asset Management Inc grew its holdings in shares of AAON by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,454 shares of the construction company’s stock worth $289,000 after purchasing an additional 118 shares during the last quarter. Congress Asset Management Co. purchased a new position in shares of AAON in the fourth quarter worth $289,000. Finally, New York State Teachers Retirement System raised its holdings in AAON by 6.6% during the 4th quarter. New York State Teachers Retirement System now owns 20,583 shares of the construction company’s stock valued at $2,422,000 after buying an additional 1,271 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Insider Activity at AAON

In other news, VP Stephen E. Wakefield sold 5,750 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $139.86, for a total transaction of $804,195.00. Following the completion of the transaction, the vice president now directly owns 9,920 shares in the company, valued at $1,387,411.20. This trade represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rebecca Thompson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $138.00, for a total transaction of $690,000.00. Following the sale, the chief financial officer now owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. This represents a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,112 shares of company stock valued at $2,196,563 in the last three months. Company insiders own 18.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AAON shares. Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and upped their price objective for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Robert W. Baird increased their price objective on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, DA Davidson raised their price target on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AAON has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Price Performance

Shares of AAON stock opened at $114.86 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 50.60 and a beta of 0.87. The business’s fifty day moving average is $121.81 and its 200 day moving average is $113.50. AAON, Inc. has a twelve month low of $70.28 and a twelve month high of $144.07.

AAON Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.