AAON’s (AAON) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of AAON (NASDAQ:AAON) in a report issued on Friday morning,Weiss Ratings reports.

A number of other research firms have also weighed in on AAON. Oppenheimer upped their price objective on shares of AAON from $105.00 to $112.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of AAON from a “hold” rating to a “strong sell” rating in a report on Sunday, August 17th. DA Davidson lowered their price target on shares of AAON from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Zacks Research upgraded shares of AAON from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Robert W. Baird cut their price objective on shares of AAON from $102.00 to $98.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.00.

AAON Stock Up 4.4%

Shares of NASDAQ:AAON opened at $106.24 on Friday. The business’s 50 day moving average is $90.76 and its 200 day moving average is $87.04. The stock has a market cap of $8.66 billion, a P/E ratio of 72.27 and a beta of 1.05. AAON has a 52-week low of $62.00 and a 52-week high of $144.07. The company has a quick ratio of 1.99, a current ratio of 3.10 and a debt-to-equity ratio of 0.38.

AAON (NASDAQ:AAON) last issued its earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. AAON had a return on equity of 15.45% and a net margin of 9.70%.The business had revenue of $322.05 million during the quarter. Sell-side analysts predict that AAON will post 2.26 EPS for the current year.

AAON Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. AAON’s payout ratio is presently 27.21%.

Insider Activity at AAON

In related news, CFO Rebecca Thompson sold 9,350 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $81.09, for a total transaction of $758,191.50. Following the completion of the sale, the chief financial officer owned 24,396 shares of the company’s stock, valued at $1,978,271.64. This represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher Douglas Eason sold 12,003 shares of AAON stock in a transaction on Monday, August 25th. The stock was sold at an average price of $85.08, for a total transaction of $1,021,215.24. Following the completion of the transaction, the insider directly owned 5,301 shares in the company, valued at $451,009.08. This represents a 69.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PFG Advisors boosted its holdings in AAON by 114.8% in the first quarter. PFG Advisors now owns 20,836 shares of the construction company’s stock worth $1,628,000 after acquiring an additional 11,136 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of AAON during the first quarter valued at about $789,000. Wealth Enhancement Advisory Services LLC raised its position in shares of AAON by 1,485.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,329 shares of the construction company’s stock valued at $2,213,000 after purchasing an additional 26,542 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in AAON by 49.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,197 shares of the construction company’s stock worth $250,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in AAON in the 1st quarter worth approximately $245,000. 70.81% of the stock is currently owned by hedge funds and other 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.