Legato Capital Management LLC Boosts Stake in AAON, Inc. (NASDAQ:AAON)

Legato Capital Management LLC raised its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 22.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,055 shares of the construction company’s stock after purchasing an additional 2,055 shares during the quarter. Legato Capital Management LLC’s holdings in AAON were worth $1,301,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AAON. JPMorgan Chase & Co. boosted its holdings in AAON by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after acquiring an additional 150,207 shares during the period. Conestoga Capital Advisors LLC lifted its position in shares of 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 purchasing an additional 39,059 shares during the last quarter. State Street Corp boosted its stake in shares of AAON by 0.6% during the third quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock valued at $213,257,000 after purchasing an additional 12,502 shares during the period. Wasatch Advisors LP grew its holdings in shares of AAON by 39.1% in the third quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares during the last quarter. Finally, FMR LLC increased its stake in AAON by 9.6% in the 3rd quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock worth $186,509,000 after buying an additional 151,540 shares during the period. Institutional investors own 70.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gary D. Fields sold 35,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $132.03, for a total transaction of $4,621,050.00. Following the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $8,488,868.85. This trade represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen E. Wakefield sold 5,750 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.86, for a total transaction of $804,195.00. Following the completion of the transaction, the vice president now owns 9,920 shares of the company’s stock, valued at $1,387,411.20. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,533 shares of company stock valued at $7,009,647 over the last 90 days. Corporate insiders own 18.55% of the company’s stock.

AAON Trading Down 2.8 %

NASDAQ:AAON opened at $109.59 on Thursday. The firm has a 50-day simple moving average of $123.07 and a 200-day simple moving average of $112.78. AAON, Inc. has a one year low of $70.28 and a one year high of $144.07. The firm has a market cap of $8.91 billion, a P/E ratio of 48.28 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06.

Wall Street Analyst Weigh In

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