Stephen E. Wakefield, Vice President of AAON , Inc. (NASDAQ:AAON), recently sold a substantial portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Wakefield sold 5,362 shares of AAON common stock on December 13, 2024. The shares were sold at a weighted average price of $130.99, amounting to a total transaction value of approximately $702,368. The transaction comes as AAON's stock has delivered an impressive 90% return over the past year, with the company now valued at $10.8 billion. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
Following this transaction, Wakefield retains direct ownership of 4,558 shares. Additionally, he holds 10,743 shares indirectly through a 401(k) plan. The SEC filing also details various stock options held by Wakefield, with exercise prices ranging from $29.48 to $79.73 and expiration dates extending into 2034.
This sale is part of a series of transactions by company executives, which are closely monitored by investors for insights into insider sentiment.
In other recent news, AAON, Inc. has reported significant growth and expansion in its Q3 2024 financial results. The company reported a 4.9% increase in revenue, reaching a total of $327.3 million, and an 8.6% rise in diluted earnings per share to $0.63. Despite a decrease in gross margin to 34.9%, AAON achieved a 25.3% adjusted EBITDA margin, marking one of its strongest quarters.
In addition to its financial results, AAON has announced its ongoing commitment to the U.S. Department of Energy's Better Buildings Commercial Building Heat Pump Technology Challenge. The company is collaborating with industry leaders, such as Copeland, and academic institutions like Oklahoma State University, Montana State University, and the University of Maryland, to develop advanced HVAC technologies that align with the DOE's new regulations.
These recent developments indicate a company navigating industry shifts while capitalizing on growing market segments. AAON is currently expanding its production capacity and anticipates a softening demand in the short term but remains optimistic for recovery and growth into 2025. The company plans to focus on long-term growth and efficiency, restructuring to manage operational risks.
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