AAON (NASDAQ:AAON) Reaches New 52-Week High at $96.61

Shares of AAON, Inc. (NASDAQ:AAON) reached a new 52-week high during trading on Monday . The stock traded as high as $96.61 and last traded at $95.75, with a volume of 196383 shares trading hands. The stock had previously closed at $94.12.

Analyst Ratings Changes

A number of analysts have recently weighed in on AAON shares. Robert W. Baird increased their price objective on shares of AAON from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. StockNews.com downgraded AAON from a “hold” rating to a “sell” rating in a research report on Monday, September 2nd. Baird R W raised AAON to a “hold” rating in a report on Wednesday, July 24th. Finally, DA Davidson restated a “buy” rating and issued a $102.00 target price on shares of AAON in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, AAON has an average rating of “Hold” and a consensus target price of $102.00.

AAON Stock Performance

The firm’s 50 day moving average is $89.87 and its 200-day moving average is $84.95. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 45.08 and a beta of 0.80. 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 (NASDAQ:AAON) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 earnings per share for the quarter, beating 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 analysts’ expectations of $283.77 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts forecast that AAON, Inc. will post 2.29 earnings per share for the current fiscal year.

AAON Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. AAON’s payout ratio is 14.88%.

Insider Buying and Selling at AAON

In other news, Director Norman H. Asbjornson sold 11,022 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 5,135 shares of the company’s stock, valued at approximately $448,850.35. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total value of $1,779,460.61. Following the sale, the chief executive officer now directly owns 64,295 shares in the company, valued at approximately $5,542,871.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Norman H. Asbjornson sold 11,022 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the sale, the director now owns 5,135 shares of the company’s stock, valued at $448,850.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,609 shares of company stock valued at $5,441,927. Company insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

Institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its stake in AAON by 3.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,963 shares of the construction company’s stock valued at $514,000 after acquiring an additional 257 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of AAON by 121.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,645 shares of the construction company’s stock valued at $639,000 after purchasing an additional 4,743 shares during the last quarter. Norges Bank purchased a new position in AAON during the fourth quarter worth approximately $43,832,000. Advisory Services Network LLC acquired a new position in AAON during the fourth quarter worth $234,000. Finally, TD Asset Management Inc purchased a new stake in AAON in the 4th quarter valued at $1,748,000. 70.81% of the stock is 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.