AAON, Inc. (NASDAQ:AAON) Short Interest Down 21.3% in July

AAON, Inc. (NASDAQ:AAON) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 3,140,000 shares, a drop of 21.3% from the June 30th total of 3,990,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

AAON has been the topic of several recent analyst reports. DA Davidson reiterated a “buy” rating and set a $102.00 target price on shares of AAON in a research report on Wednesday, June 26th. Robert W. Baird assumed coverage on shares of AAON in a report on Wednesday, July 24th. They set a “neutral” rating and a $100.00 price objective on the stock. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a report on Monday, June 17th. Baird R W upgraded AAON to a “hold” rating in a report on Wednesday, July 24th. Finally, William Blair assumed coverage on AAON in a report on Monday, April 29th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $101.00.

Insider Buying and Selling at AAON

In related news, VP Stephen E. Wakefield sold 29,946 shares of AAON stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $90.13, for a total transaction of $2,699,032.98. Following the completion of the transaction, the vice president now directly owns 15,670 shares in the company, valued at approximately $1,412,337.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gary D. Fields sold 28,200 shares of the firm’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 sale, the chief executive officer now owns 64,295 shares in the company, valued at $4,894,778.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Stephen E. Wakefield sold 29,946 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $90.13, for a total value of $2,699,032.98. Following the completion of the transaction, the vice president now owns 15,670 shares of the company’s stock, valued at $1,412,337.10. The disclosure for this sale can be found here. In the last three months, insiders sold 71,646 shares of company stock worth $5,885,399. 18.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AAON

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Crewe Advisors LLC acquired a new position in shares of AAON during the second quarter worth $35,000. Legato Capital Management LLC purchased a new stake in AAON during the 2nd quarter worth $660,000. RiverPark Advisors LLC acquired a new position in AAON in the 2nd quarter worth $77,000. Allspring Global Investments Holdings LLC boosted its position in 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 buying an additional 296,423 shares during the last quarter. Finally, State of Michigan Retirement System acquired a new stake in shares of AAON during the second quarter valued at about $1,431,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Stock Down 0.1 %

AAON stock opened at $87.46 on Tuesday. The firm has a fifty day moving average of $81.38 and a 200-day moving average of $81.38. AAON has a 52-week low of $52.24 and a 52-week high of $96.34. The firm has a market capitalization of $7.19 billion, a P/E ratio of 40.74 and a beta of 0.80.

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

AAON Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.37%. The ex-dividend date was Friday, June 7th. AAON’s dividend payout ratio (DPR) is presently 14.91%.

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.