Ascent Wealth Partners LLC Increases Stake in AAON, Inc.

Ascent Wealth Partners LLC has significantly increased its ownership in AAON, Inc. (NASDAQ:AAON) by 78.3% during the third quarter. This was revealed in the firm's latest Form 13F filing with the Securities and Exchange Commission. After purchasing an additional 13,076 shares, Ascent now holds a total of 29,768 shares in AAON, valued at approximately $3,209,000 based on the latest filing.

Other institutional investors have also made adjustments to their holdings in AAON. For instance, Vanguard Group Inc. increased its position in AAON shares by 0.9% in the first quarter, now owning 7,278,855 shares valued at $641,267,000 after acquiring 61,544 additional shares. Similarly, Janney Montgomery Scott LLC nearly doubled its stake by growing its share count by 99.6%, owning 17,258 shares valued at $1,520,000 following the purchase of 8,613 more shares.

Furthermore, Janus Henderson Group PLC raised its holdings by 79.8%, now owning 58,898 shares valued at $5,186,000 after acquiring 26,141 shares. Lord Abbett & Co. LLC increased its stake by 18.9%, owning 592,804 shares worth $52,226,000 after buying an additional 94,026 shares. Also, Price T. Rowe Associates lifted its holdings by 1.2%, now holding 562,933 shares valued at $49,595,000 after purchasing 6,766 shares. Data shows that institutional investors own about 70.81% of AAON's total stock.

Analyst Ratings Update

Several analysts have recently updated their ratings on AAON shares. StockNews.com upgraded the stock from a "sell" to a "hold" rating on September 20th. On October 28th, Robert W. Baird improved their rating from "neutral" to "outperform" and set a new target price of $130, up from $114. Conversely, Sidoti lowered their rating from "buy" to "neutral" but revised the target price upward from $102 to $111 as of October 22nd. Additionally, Baird also upgraded AAON from a “hold” to a “strong buy” on the same date as Robert W. Baird's report. Currently, two analysts have assigned a hold rating, three have a buy rating, and one has declared a strong buy. The average analyst rating is "Moderate Buy" with a consensus price target of $114.33.

AAON Stock Overview

In midday trading on Thursday, AAON's stock edged up by $0.31 to reach $120.56. The trading volume was 8,919 shares, a contrast to the average volume of 601,214 shares. Over the past year, the stock has fluctuated between a low of $57.19 and a high of $122.97. AAON has a debt-to-equity ratio of 0.12, a current ratio of 2.99, and a quick ratio of 1.70. The moving average price over the last 50 days stands at $104.70, while the 200-day moving average is $90.99. The company is valued at approximately $9.77 billion and has a price-to-earnings ratio of 54.17, with a beta of 0.79.

Dividends Provided by AAON

Recently, AAON announced a quarterly dividend of $0.08, which was paid to shareholders on September 27th. Shareholders recorded as of September 6th received this dividend, indicating an annualized distribution of $0.32, resulting in a yield of 0.27%. The ex-dividend date also fell on September 6th, and the company's payout ratio currently stands at 14.41%.

Overview of AAON, Inc.

AAON, Inc., together with its subsidiaries, is engaged in the engineering, manufacturing, marketing, and sales of air conditioning and heating equipment within the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. The products provided include rooftop units, cooling solutions for data centers, cleanroom systems, chillers, packaged outdoor mechanical rooms, and more.

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