AAON (NASDAQ:AAON) Now Covered by Robert W. Baird

Robert W. Baird started coverage on shares of AAON (NASDAQ:AAON) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $100.00 price target on the construction company’s stock.

A number of other equities analysts have also weighed in on AAON. StockNews.com lowered shares of AAON from a hold rating to a sell rating in a report on Monday, June 17th. DA Davidson reiterated a buy rating and issued a $102.00 price target on shares of AAON in a report on Wednesday, June 26th. Finally, William Blair started coverage on shares of AAON in a report on Monday, April 29th. They set an outperform rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, AAON has an average rating of Hold and an average price target of $101.00.

AAON Price Performance

Shares of AAON opened at $87.59 on Wednesday. The firm has a 50 day simple moving average of $81.38 and a 200-day simple moving average of $81.25. AAON has a 1-year low of $52.24 and a 1-year high of $96.34. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 40.80 and a beta of 0.80.

AAON (NASDAQ:AAON) last released its earnings results on Thursday, May 2nd. The construction company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $262.10 million during the quarter, compared to analysts’ expectations of $284.76 million. AAON had a return on equity of 25.84% and a net margin of 15.44%. The firm’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts expect that AAON will post 2.24 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Friday, June 7th. AAON’s payout ratio is currently 14.91%.

Insider Transactions at AAON

In related news, VP Stephen E. Wakefield sold 29,946 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now owns 15,670 shares of the company’s stock, valued at approximately $1,412,337.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Stephen E. Wakefield sold 29,946 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now owns 15,670 shares of the company’s stock, valued at approximately $1,412,337.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rebecca Thompson sold 13,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $77.00, for a total transaction of $1,039,500.00. Following the transaction, the chief financial officer now directly owns 17,297 shares of the company’s stock, valued at $1,331,869. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,646 shares of company stock valued at $5,885,399. Insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of AAON in the 4th quarter worth approximately $43,832,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of AAON by 106.3% in 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. 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 worth $30,541,000 after acquiring an additional 296,423 shares during the period. Norden Group LLC lifted its stake in shares of AAON by 2,604.7% in the 1st quarter. Norden Group LLC now owns 305,550 shares of the construction company’s stock worth $26,920,000 after acquiring an additional 294,253 shares during the period. Finally, Swedbank AB acquired a new stake in shares of AAON in the 2nd quarter worth approximately $14,569,000. 70.81% of the stock is owned by institutional investors and hedge funds.

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.