Congress Asset Management Co. Takes Position in AAON, Inc. (NASDAQ:AAON)

Congress Asset Management Co. bought a new position in shares of AAON, Inc. (NASDAQ:AAON) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,453 shares of the construction company’s stock, valued at approximately $289,000.

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

AAON Trading Up 1.5 %

NASDAQ:AAON opened at $114.86 on Wednesday. The company has a market capitalization of $9.34 billion, a PE ratio of 50.60 and a beta of 0.87. AAON, Inc. has a 52-week low of $70.28 and a 52-week high of $144.07. The stock’s 50 day moving average price is $121.81 and its 200 day moving average price is $113.50. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07.

Insider Activity

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

Analyst Ratings Changes

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

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.