West Michigan Advisors LLC Acquires New Position in AAON, Inc. (NASDAQ:AAON)

West Michigan Advisors LLC acquired a new stake in shares of AAON, Inc. (NASDAQ:AAON) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,221 shares of the construction company’s stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAON. Wasatch Advisors LP boosted its holdings in AAON by 39.1% in the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after buying an additional 525,132 shares during the period. Franklin Resources Inc. lifted its position in shares of AAON by 258.8% during the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock worth $37,014,000 after acquiring an additional 238,308 shares in the last quarter. FMR LLC boosted its holdings in shares of AAON by 9.6% in the third quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock worth $186,509,000 after acquiring an additional 151,540 shares during the period. JPMorgan Chase & Co. grew its position in shares of AAON by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after purchasing an additional 150,207 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of AAON by 75.7% during the 3rd quarter. Victory Capital Management Inc. now owns 344,620 shares of the construction company’s stock valued at $37,164,000 after purchasing an additional 148,507 shares during the period. Institutional investors own 70.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AAON shares. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Friday. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research report on Friday. DA Davidson decreased their target price on shares of AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday. Finally, Robert W. Baird cut their price target on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AAON has a consensus rating of “Moderate Buy” and a consensus target price of $115.50.

Insider Buying and Selling at AAON

In other news, CFO Rebecca Thompson sold 5,000 shares of AAON stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $138.00, for a total transaction of $690,000.00. Following the completion of the sale, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at approximately $2,386,986. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Stephen E. Wakefield sold 5,362 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $130.99, for a total value of $702,368.38. Following the completion of the transaction, the vice president now directly owns 4,558 shares in the company, valued at approximately $597,052.42. This represents a 54.05 % decrease in their position. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by company insiders.

AAON Stock Down 2.3 %

Shares of NASDAQ AAON opened at $76.80 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $116.69 and a 200-day moving average of $114.00. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 33.83 and a beta of 0.87. AAON, Inc. has a 12 month low of $70.28 and a 12 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.