Pembroke Management LTD Raises Stake in AAON, Inc. (NASDAQ:AAON)

Pembroke Management LTD grew its holdings in AAON, Inc. (NASDAQ:AAON) by 37.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,398 shares of the construction company’s stock after acquiring an additional 62,037 shares during the quarter. AAON accounts for 3.4% of Pembroke Management LTD’s portfolio, making the stock its 9th largest holding. Pembroke Management LTD owned approximately 0.28% of AAON worth $26,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wasatch Advisors LP raised its stake in AAON by 39.1% during 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. raised 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 valued at $37,014,000 after buying an additional 238,308 shares during the last quarter. FMR LLC lifted its stake 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 valued at $186,509,000 after buying an additional 151,540 shares during the period. JPMorgan Chase & Co. grew its position in AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock worth $351,615,000 after buying an additional 150,207 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in AAON by 75.7% during the third quarter. Victory Capital Management Inc. now owns 344,620 shares of the construction company’s stock valued at $37,164,000 after acquiring an additional 148,507 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Buying and Selling at AAON

In related news, CFO Rebecca Thompson sold 5,000 shares of the company’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 transaction, the chief financial officer now owns 17,297 shares in the company, valued at $2,386,986. This represents a 22.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the sale, the vice president now owns 4,558 shares of the company’s stock, valued at $597,052.42. The trade was a 54.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,112 shares of company stock worth $2,196,563 over the last ninety days. Corporate insiders own 18.55% of the company’s stock.

AAON Stock Up 0.3 %

Shares of NASDAQ AAON opened at $113.16 on Tuesday. AAON, Inc. has a 52-week low of $70.28 and a 52-week high of $144.07. 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 business has a fifty day moving average of $121.81 and a two-hundred day moving average of $113.50. The stock has a market cap of $9.20 billion, a PE ratio of 49.85 and a beta of 0.87.

Wall Street Analyst Weigh In

AAON has been the topic of several recent research reports. Robert W. Baird lifted 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. Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Baird R W upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, DA Davidson lifted their target price on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.