AAON (NASDAQ:AAON) Cut to “Neutral” at Sidoti

Sidoti downgraded shares of AAON (NASDAQ:AAON) from a buy rating to a neutral rating in a report released on Tuesday, MarketBeat.com reports. Sidoti currently has $111.00 price target on the construction company’s stock, up from their prior price target of $102.00.

A number of other analysts have also recently commented on the stock. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Baird R W upgraded AAON to a “hold” rating in a research report on Wednesday, July 24th. DA Davidson reiterated a “buy” rating and issued a $102.00 target price on shares of AAON in a report on Wednesday, June 26th. Finally, Robert W. Baird boosted their price target on AAON from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.00.

AAON Stock Performance

Shares of AAON stock opened at $111.19 on Tuesday. The stock has a market capitalization of $9.14 billion, a PE ratio of 51.72 and a beta of 0.80. The business’s 50 day simple moving average is $100.92 and its 200 day simple moving average is $89.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. AAON has a one year low of $53.03 and a one year high of $113.86.

AAON (NASDAQ:AAON) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.62 EPS 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 for the quarter, compared to analyst estimates of $283.77 million. During the same period in the prior year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, research analysts forecast that AAON will post 2.28 earnings per share for the current year.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. AAON’s dividend payout ratio (DPR) is presently 14.88%.

Insider Activity at AAON

In other news, CEO Gary D. Fields sold 20,641 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the transaction, the chief executive officer now directly owns 64,295 shares of the company’s stock, valued at $5,542,871.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Gary D. Fields sold 20,641 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were 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 owns 64,295 shares in the company, valued at $5,542,871.95. This represents a 0.00 % decrease in their position. 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 AAON stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total value of $963,433.02. Following the transaction, the director now owns 5,135 shares of the company’s stock, valued at $448,850.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AAON

Several institutional investors have recently bought and sold shares of AAON. Vaughan Nelson Investment Management L.P. grew its position in 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 purchasing an additional 561,195 shares in the last quarter. Blair William & Co. IL bought a new position in shares of AAON in the second quarter valued at approximately $44,934,000. Millennium Management LLC increased its position in shares of AAON by 212.3% during the second 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. Allspring Global Investments Holdings LLC lifted its holdings in AAON by 552.4% during the second 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. Finally, Norden Group LLC boosted its position in AAON by 2,604.7% in the first 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. 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.