AAON, Inc. (NASDAQ:AAON) Short Interest Update

AAON, Inc. (NASDAQ:AAON) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 2,960,000 shares, a drop of 14.5% from the September 15th total of 3,460,000 shares. Based on an average trading volume of 412,900 shares, the days-to-cover ratio is currently 7.2 days.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AAON shares. DA Davidson reissued a “buy” rating and issued a $102.00 price target on shares of AAON in a report on Wednesday, June 26th. Baird R W upgraded shares of AAON to a “hold” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Robert W. Baird lifted their price objective on shares of AAON from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.00.

AAON Trading Up 3.6 %

AAON stock opened at $112.45 on Monday. The stock has a 50-day moving average price of $96.43 and a 200 day moving average price of $87.86. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 52.30 and a beta of 0.80. The company has a quick ratio of 1.70, a current ratio of 2.99 and a debt-to-equity ratio of 0.12. AAON has a 52 week low of $52.24 and a 52 week high of $112.90.

AAON (NASDAQ:AAON) last issued its earnings results on Thursday, August 1st. The construction company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. AAON had a net margin of 15.60% and a return on equity of 26.02%. The firm had revenue of $313.57 million during the quarter, compared to analysts’ expectations of $283.77 million. During the same quarter last year, the company posted $0.55 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts anticipate that AAON will post 2.28 EPS for the current year.

AAON Announces Dividend

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

Insider Activity

In related news, Director Norman H. Asbjornson sold 11,022 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $87.41, for a total transaction of $963,433.02. Following the sale, the director now owns 5,135 shares of the company’s stock, valued at $448,850.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other AAON news, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction on Tuesday, August 6th. The shares were 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Norman H. Asbjornson sold 11,022 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total value of $963,433.02. Following the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 18.55% of the company’s stock.

Institutional Trading of AAON

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. lifted its holdings in AAON by 106.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock valued at $95,010,000 after acquiring an additional 561,195 shares during the period. Blair William & Co. IL acquired a new position in shares of AAON in the 2nd quarter valued at $44,934,000. Millennium Management LLC boosted its holdings in AAON by 212.3% during the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after buying an additional 446,344 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in AAON by 552.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company’s stock worth $30,541,000 after buying an additional 296,423 shares in the last quarter. Finally, Norden Group LLC grew its position in AAON by 2,604.7% during the first quarter. Norden Group LLC now owns 305,550 shares of the construction company’s stock valued at $26,920,000 after buying an additional 294,253 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

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.