State of New Jersey Common Pension Fund D Lowers Position in AAON, Inc. (NASDAQ:AAON)

State of New Jersey Common Pension Fund D trimmed its position in AAON, Inc. (NASDAQ:AAON) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,369 shares of the construction company’s stock after selling 487 shares during the period. State of New Jersey Common Pension Fund D’s holdings in AAON were worth $2,951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of AAON by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock valued at $641,267,000 after buying an additional 61,544 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in AAON by 1.9% during the third quarter. Conestoga Capital Advisors LLC now owns 2,125,186 shares of the construction company’s stock worth $229,180,000 after acquiring an additional 39,059 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in AAON by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,568,746 shares of the construction company’s stock worth $136,857,000 after acquiring an additional 24,095 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in AAON by 106.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock worth $95,010,000 after purchasing an additional 561,195 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of AAON by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 958,225 shares of the construction company’s stock valued at $83,596,000 after purchasing an additional 157,699 shares in the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Price Performance

NASDAQ AAON opened at $134.63 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 59.31 and a beta of 0.79. The stock has a 50-day moving average of $108.85 and a 200 day moving average of $92.56. AAON, Inc. has a one year low of $59.71 and a one year high of $144.07.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm had revenue of $327.25 million during the quarter, compared to analysts’ expectations of $315.80 million. During the same period in the previous year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that AAON, Inc. will post 2.26 EPS for the current year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. AAON’s dividend payout ratio (DPR) is currently 14.10%.

Insider Buying and Selling

In other AAON news, VP Casey Kidwell sold 4,796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $136.38, for a total value of $654,078.48. Following the transaction, the vice president now owns 4,953 shares of the company’s stock, valued at approximately $675,490.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. DA Davidson upped 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. Robert W. Baird lifted their price target on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, Sidoti cut shares of AAON from a “buy” rating to a “neutral” rating and increased their price target for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

AAON Company 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.