Principal Financial Group Inc. Increases Holdings in AAON, Inc. $AAON

Principal Financial Group Inc. increased its position in AAON, Inc. (NASDAQ:AAON) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,249 shares of the construction company’s stock after acquiring an additional 7,254 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of AAON worth $12,599,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in AAON by 96.5% during the second quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company’s stock worth $25,000 after purchasing an additional 164 shares during the last quarter. Summit Securities Group LLC acquired a new stake in AAON in the fourth quarter valued at $45,000. Danske Bank A S purchased a new position in shares of AAON in the third quarter valued at $47,000. Huntington National Bank increased its position in shares of AAON by 21.1% in the fourth quarter. Huntington National Bank now owns 689 shares of the construction company’s stock valued at $53,000 after buying an additional 120 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of AAON by 46.8% during the 4th quarter. UMB Bank n.a. now owns 885 shares of the construction company’s stock worth $67,000 after buying an additional 282 shares during the last quarter. 70.81% of the stock is owned by hedge funds and other institutional investors.

AAON Stock Performance

AAON stock opened at $102.67 on Friday. AAON, Inc. has a fifty-two week low of $62.00 and a fifty-two week high of $150.46. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 71.80, a PEG ratio of 3.00 and a beta of 1.41. The stock has a fifty day moving average of $125.19 and a two-hundred day moving average of $105.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.62.

AAON (NASDAQ:AAON) last issued its quarterly earnings data on Thursday, May 7th. The construction company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.17. The business had revenue of $496.94 million for the quarter, compared to the consensus estimate of $381.08 million. AAON had a return on equity of 13.67% and a net margin of 7.30%.The business’s revenue was up 54.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. On average, analysts anticipate that AAON, Inc. will post 2.25 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.40 annualized dividend and a yield of 0.4%. AAON’s payout ratio is presently 27.97%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AAON. Zacks Research cut shares of AAON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Oppenheimer restated an “outperform” rating on shares of AAON in a research report on Friday, May 8th. KeyCorp assumed coverage on shares of AAON in a report on Thursday. They issued a “sector weight” rating on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AAON in a research report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.00.

Insider Buying and Selling

In other AAON news, CAO Rebecca Thompson sold 9,672 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $136.59, for a total value of $1,321,098.48. Following the transaction, the chief accounting officer directly owned 27,681 shares in the company, valued at approximately $3,780,947.79. This represents a 25.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Casey Kidwell sold 3,153 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $138.30, for a total transaction of $436,059.90. Following the sale, the insider directly owned 13,463 shares in the company, valued at $1,861,932.90. This represents a 18.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 118,980 shares of company stock worth $16,361,330 in the last 90 days. 18.09% of the stock is currently owned by corporate insiders.

About AAON

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.