AAON (NASDAQ:AAON) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of AAON (NASDAQ:AAON) from a sell rating to a hold rating in a research note published on Friday.

Several other research firms have also weighed in on AAON. DA Davidson reiterated a buy rating and issued a $102.00 price objective on shares of AAON in a research note on Wednesday, June 26th. Baird R W raised AAON to a hold rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird increased their price objective on AAON from $100.00 to $102.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AAON presently has a consensus rating of Hold and an average price target of $102.00.

AAON Stock Up 3.6 %

Shares of AAON stock opened at $107.82 on Friday. AAON has a one year low of $52.24 and a one year high of $108.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. The stock has a fifty day moving average price of $90.76 and a 200 day moving average price of $85.46. The stock has a market cap of $8.86 billion, a P/E ratio of 50.15 and a beta of 0.80.

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

AAON Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a $0.08 dividend. 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, VP Stephen E. Wakefield sold 29,946 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $90.13, for a total value of $2,699,032.98. Following the completion of the sale, the vice president now directly owns 15,670 shares in the company, valued at $1,412,337.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Stephen E. Wakefield sold 29,946 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the sale, the vice president now directly owns 15,670 shares of the company’s stock, valued at $1,412,337.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Norman H. Asbjornson sold 11,022 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 61,609 shares of company stock worth $5,441,927 in the last three months. Insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of AAON during the fourth quarter worth approximately $43,832,000. Vaughan Nelson Investment Management L.P. grew its holdings in AAON by 106.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock worth $95,010,000 after acquiring an additional 561,195 shares during the period. Blair William & Co. IL acquired a new stake in AAON during the 2nd quarter worth $44,934,000. Millennium Management LLC raised its position in shares of AAON by 212.3% during the 2nd quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock valued at $57,278,000 after acquiring an additional 446,344 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of AAON by 552.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company’s stock valued at $30,541,000 after purchasing an additional 296,423 shares during the period. Institutional investors own 70.81% of the company’s stock.

About AAON

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.