Short Interest in AAON, Inc. (NASDAQ:AAON) Decreases By 19.8%

AAON, Inc. (NASDAQ:AAON) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,150,000 shares, a drop of 19.8% from the October 15th total of 2,680,000 shares. Based on an average daily volume of 369,600 shares, the days-to-cover ratio is currently 5.8 days.

Insiders Place Their Bets

In related news, VP Casey Kidwell sold 4,796 shares of AAON stock in a transaction on 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 sale, the vice president now owns 4,953 shares of the company’s stock, valued at approximately $675,490.14. This trade represents a 49.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 18.55% of the company’s stock.

Institutional Investors Weigh In On AAON

Several institutional investors have recently made changes to their positions in AAON. Blue Trust Inc. boosted its holdings in AAON by 202.0% in the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock valued at $32,000 after purchasing an additional 198 shares during the period. ORG Partners LLC bought a new stake in AAON during the second quarter valued at $29,000. ORG Wealth Partners LLC purchased a new position in AAON during the third quarter worth about $37,000. Crewe Advisors LLC bought a new position in AAON in the 2nd quarter worth about $35,000. Finally, Signaturefd LLC raised its holdings in shares of AAON by 63.5% in the 2nd quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock valued at $53,000 after acquiring an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.

AAON Price Performance

AAON stock opened at $133.46 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The business’s 50 day simple moving average is $110.69 and its 200 day simple moving average is $93.12. AAON has a 12 month low of $61.09 and a 12 month high of $144.07. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 58.79 and a beta of 0.79.

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

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. AAON’s dividend payout ratio is 14.10%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. DA Davidson boosted their target price on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Sidoti downgraded AAON from a “buy” rating to a “neutral” rating and increased their price target for the company from $102.00 to $111.00 in a research report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.