AAON, Inc. (NASDAQ:AAON) CEO Sells $3,651,959.80 in Stock

AAON, Inc. (NASDAQ:AAON) CEO Gary D. Fields sold 37,189 shares of AAON stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the sale, the chief executive officer now owns 63,714 shares in the company, valued at approximately $6,256,714.80. This represents a 36.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AAON Stock Performance

Shares of AAON stock opened at $100.32 on Friday. The business has a 50-day moving average price of $83.67 and a two-hundred day moving average price of $108.09. AAON, Inc. has a 1-year low of $68.98 and a 1-year high of $144.07. 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 company has a market cap of $8.16 billion, a P/E ratio of 44.19 and a beta of 1.06.

AAON (NASDAQ:AAON) last released its earnings results on Wednesday, April 30th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.24 by $0.13. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business had revenue of $322.05 million during the quarter, compared to analysts’ expectations of $289.16 million. During the same quarter last year, the firm posted $0.46 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. As a group, analysts anticipate that AAON, Inc. will post 2.26 EPS for the current year.

AAON announced that its board has approved a share repurchase program on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

AAON Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from AAON’s previous quarterly dividend of $0.08. AAON’s payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday, February 28th. DA Davidson decreased their price target on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Robert W. Baird cut their price objective on AAON from $155.00 to $116.00 and set an “outperform” rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Institutional Investors Weigh In On AAON

Several hedge funds and other institutional investors have recently bought and sold shares of AAON. Vanguard Group Inc. increased its position in AAON by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 6,516,204 shares of the construction company’s stock valued at $509,111,000 after buying an additional 276,722 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of AAON by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 3,260,526 shares of the construction company’s stock valued at $351,615,000 after acquiring an additional 150,207 shares in the last quarter. Blair William & Co. IL raised its position in shares of AAON by 86.2% during the first quarter. Blair William & Co. IL now owns 2,177,688 shares of the construction company’s stock worth $170,143,000 after purchasing an additional 1,007,906 shares during the period. Invesco Ltd. lifted its holdings in shares of AAON by 15.6% in the 4th quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company’s stock worth $239,184,000 after purchasing an additional 274,119 shares in the last quarter. Finally, Geneva Capital Management LLC grew its position in AAON by 13.1% in the 1st quarter. Geneva Capital Management LLC now owns 1,897,728 shares of the construction company’s stock valued at $148,269,000 after purchasing an additional 219,814 shares during the period. 70.81% of the stock is owned by institutional investors.

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.