AAON (NASDAQ:AAON) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of AAON (NASDAQ:AAON) from a sell rating to a hold rating in a report issued on Friday morning.

AAON has been the subject of a number of other reports. Baird R W raised shares of AAON to a hold rating in a research note on Wednesday, July 24th. Robert W. Baird upped their target price on AAON from $100.00 to $102.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Finally, DA Davidson reiterated a buy rating and set a $102.00 price target on shares of AAON in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $102.00.

AAON Stock Up 3.6 %

Shares of NASDAQ:AAON opened at $107.82 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.99. AAON has a 1-year low of $52.24 and a 1-year high of $108.02. The company’s fifty day moving average is $90.76 and its two-hundred day moving average is $85.46. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 50.15 and a beta of 0.80.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.08. The firm had revenue of $313.57 million for the quarter, compared to analyst estimates of $283.77 million. AAON had a return on equity of 26.02% and a net margin of 15.60%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. Equities analysts anticipate that AAON will post 2.29 EPS for the current year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, September 6th. AAON’s dividend payout ratio (DPR) is currently 14.88%.

Insider Buying and Selling

In other news, Director Norman H. Asbjornson sold 11,022 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total transaction of $963,433.02. Following the completion of the sale, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AAON news, CEO Gary D. Fields sold 20,641 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Norman H. Asbjornson sold 11,022 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the completion of the sale, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,609 shares of company stock worth $5,441,927. Corporate insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

A number of institutional investors and hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC bought a new stake in AAON during the 4th quarter valued at approximately $27,000. ORG Partners LLC acquired a new position in shares of AAON during the second quarter worth approximately $29,000. Crewe Advisors LLC bought a new stake in shares of AAON in the second quarter valued at approximately $35,000. Signaturefd LLC grew its stake in shares of AAON by 63.5% in the second quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock worth $53,000 after acquiring an additional 238 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in AAON by 35.6% during the first quarter. GAMMA Investing LLC now owns 690 shares of the construction company’s stock worth $61,000 after acquiring an additional 181 shares during the period. 70.81% of the stock is currently owned by institutional investors and hedge funds.

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.