AAON (NASDAQ:AAON) Upgraded by Baird R W to Hold

Baird R W upgraded shares of AAON (NASDAQ:AAON) to a hold rating in a report released on Wednesday, Zacks.com reports.

A number of other brokerages have also commented on AAON. DA Davidson reissued a buy rating and issued a $102.00 price objective on shares of AAON in a research report on Wednesday, June 26th. Robert W. Baird assumed coverage on shares of AAON in a research report on Wednesday. They set a neutral rating and a $100.00 price target on the stock. William Blair started coverage on AAON in a report on Monday, April 29th. They issued an outperform rating for the company. Finally, StockNews.com lowered AAON from a hold rating to a sell rating in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, AAON has a consensus rating of Hold and an average target price of $101.00.

AAON Trading Up 2.6 %

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

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm had revenue of $262.10 million for the quarter, compared to the consensus estimate of $284.76 million. AAON had a return on equity of 25.84% and a net margin of 15.44%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities research analysts forecast that AAON will post 2.24 EPS for the current year.

AAON Announces Dividend

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

Insider Activity at AAON

In other news, CEO Gary D. Fields sold 28,200 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $76.13, for a total transaction of $2,146,866.00. Following the sale, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at approximately $4,894,778.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Gary D. Fields sold 28,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $76.13, for a total transaction of $2,146,866.00. Following the completion of the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at approximately $4,894,778.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rebecca Thompson sold 13,500 shares of AAON stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 17,297 shares in the company, valued at $1,331,869. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,646 shares of company stock worth $5,885,399. Company insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AAON. Norges Bank bought a new stake in AAON during the 4th quarter worth $43,832,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of AAON by 106.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock worth $95,010,000 after purchasing an additional 561,195 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in AAON by 552.4% in the second 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. Norden Group LLC raised its position in AAON by 2,604.7% during the 1st quarter. Norden Group LLC now owns 305,550 shares of the construction company’s stock worth $26,920,000 after purchasing an additional 294,253 shares during the last quarter. Finally, Swedbank AB acquired a new position in AAON during the 2nd quarter worth about $14,569,000. Institutional investors own 70.81% of the company’s stock.

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.