Congress Asset Management Co. Invests $289,000 in AAON, Inc. (NASDAQ:AAON)

Congress Asset Management Co. purchased a new position in shares of AAON, Inc. (NASDAQ:AAON) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,453 shares of the construction company’s stock, valued at approximately $289,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company’s stock worth $41,000 after acquiring an additional 84 shares during the period. Captrust Financial Advisors lifted its stake in shares of AAON by 1.0% in the third quarter. Captrust Financial Advisors now owns 8,796 shares of the construction company’s stock valued at $949,000 after purchasing an additional 89 shares during the period. Louisiana State Employees Retirement System boosted its holdings in AAON by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the construction company’s stock worth $2,201,000 after buying an additional 100 shares in the last quarter. Conway Capital Management Inc. grew its position in AAON by 4.0% during the fourth quarter. Conway Capital Management Inc. now owns 2,602 shares of the construction company’s stock worth $306,000 after buying an additional 101 shares during the period. Finally, UMB Bank n.a. grew its position in AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after buying an additional 131 shares during the period. Institutional investors and hedge funds own 70.81% of the company’s stock.

Insider Activity

In related news, CFO Rebecca Thompson sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $138.00, for a total value of $690,000.00. Following the completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Stephen E. Wakefield sold 5,362 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the sale, the vice president now directly owns 4,558 shares in the company, valued at $597,052.42. This represents a 54.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,112 shares of company stock worth $2,196,563 over the last three months. 18.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AAON has been the subject of a number of research reports. Robert W. Baird lifted their price target on shares of AAON from $130.00 to $138.00 and gave the company an “outperform” 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. DA Davidson upped their target price on AAON from $102.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Sidoti cut AAON from a “buy” rating to a “neutral” rating and raised their price target for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Two research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $133.00.

AAON Trading Up 1.5 %

Shares of AAON opened at $114.86 on Wednesday. The firm has a 50 day simple moving average of $121.81 and a 200-day simple moving average of $113.50. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 50.60 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON, Inc. has a 1-year low of $70.28 and a 1-year 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.