AAON, Inc. (NASDAQ:AAON) Announces Quarterly Dividend of $0.08

AAON, Inc. (NASDAQ:AAON) declared a quarterly dividend on Monday, November 11th,RTT News reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.08 per share by the construction company on Thursday, December 19th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, November 29th.

AAON has raised its dividend payment by an average of 8.1% per year over the last three years. AAON has a payout ratio of 10.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect AAON to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.7%.

AAON Trading Up 2.1 %

Shares of AAON stock opened at $140.45 on Wednesday. The company has a market capitalization of $11.42 billion, a P/E ratio of 61.87 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The company has a fifty day moving average of $115.75 and a 200 day moving average of $95.40. AAON has a fifty-two week low of $61.09 and a fifty-two week high of $144.07.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company had revenue of $327.25 million during the quarter, compared to analyst estimates of $315.80 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that AAON will post 2.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gary D. Fields sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $132.03, for a total value of $4,621,050.00. Following the completion of the sale, the chief executive officer now directly owns 64,295 shares in the company, valued at $8,488,868.85. This represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Casey Kidwell sold 4,796 shares of AAON stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total value of $654,078.48. Following the completion of the transaction, the vice president now directly owns 4,953 shares of the company’s stock, valued at approximately $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,967 shares of company stock valued at $6,271,357. 18.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AAON has been the subject of several research reports. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Robert W. Baird lifted their target price on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. DA Davidson increased their price target on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Sidoti cut shares of AAON from a “buy” rating to a “neutral” rating and increased their target price for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.00.

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.