AAON (NASDAQ:AAON) Sets New 12-Month High – Here’s What Happened

AAON, Inc. (NASDAQ:AAON)’s stock price hit a new 52-week high on Monday . The company traded as high as $113.68 and last traded at $113.64, with a volume of 11035 shares trading hands. The stock had previously closed at $112.45.

Analysts Set New Price Targets

AAON has been the topic of a number of analyst reports. Baird R W upgraded AAON to a “hold” rating in a research report on Wednesday, July 24th. Robert W. Baird upped their price target on AAON from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Finally, DA Davidson reiterated a “buy” rating and issued a $102.00 price target on shares of AAON in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $102.00.

AAON Stock Up 0.7 %

The firm has a fifty day moving average price of $96.43 and a 200 day moving average price of $87.86. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. The company has a market cap of $9.31 billion, a P/E ratio of 52.30 and a beta of 0.80.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. AAON had a return on equity of 26.02% and a net margin of 15.60%. The company had revenue of $313.57 million for the quarter, compared to analysts’ expectations of $283.77 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities research analysts forecast that AAON, Inc. will post 2.28 earnings per share for the current year.

AAON Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, September 6th. AAON’s dividend payout ratio (DPR) is presently 14.88%.

Insider Activity

In other AAON news, Director Norman H. Asbjornson sold 11,022 shares of the stock in a transaction dated Tuesday, August 6th. The stock was 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 approximately $448,850.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AAON news, Director Norman H. Asbjornson sold 11,022 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total value of $963,433.02. Following the completion of the sale, the director now directly owns 5,135 shares in the company, valued at $448,850.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary D. Fields sold 20,641 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $86.21, for a total value of $1,779,460.61. Following the transaction, the chief executive officer now owns 64,295 shares of the company’s stock, valued at approximately $5,542,871.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of AAON by 0.9% in the first quarter. Vanguard Group Inc. now owns 7,278,855 shares of the construction company’s stock valued at $641,267,000 after buying an additional 61,544 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in AAON by 99.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,258 shares of the construction company’s stock valued at $1,520,000 after acquiring an additional 8,613 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of AAON by 79.8% during the 1st quarter. Janus Henderson Group PLC now owns 58,898 shares of the construction company’s stock worth $5,186,000 after buying an additional 26,141 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of AAON by 71.1% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 527,875 shares of the construction company’s stock worth $46,505,000 after buying an additional 219,435 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of AAON by 18.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 592,804 shares of the construction company’s stock valued at $52,226,000 after purchasing an additional 94,026 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors.

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.