AAON, Inc. (NASDAQ:AAON) Sees Significant Drop in Short Interest

AAON, Inc. (NASDAQ:AAON) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 2,680,000 shares, a drop of 9.5% from the September 30th total of 2,960,000 shares. Based on an average daily volume of 385,000 shares, the short-interest ratio is presently 7.0 days.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AAON. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Robert W. Baird upgraded shares of AAON from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $114.00 to $130.00 in a research note on Monday. Baird R W upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AAON currently has a consensus rating of “Moderate Buy” and an average target price of $114.33.

AAON Stock Down 0.8 %

Shares of NASDAQ:AAON opened at $114.22 on Friday. The firm has a fifty day moving average price of $102.58 and a two-hundred day moving average price of $90.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.99 and a quick ratio of 1.70. AAON has a one year low of $54.19 and a one year high of $122.97. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 51.45 and a beta of 0.80.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.62 EPS for the quarter, beating 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 the consensus estimate of $283.77 million. During the same period last year, the firm earned $0.55 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts anticipate that AAON will post 2.28 EPS for the current fiscal 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, September 6th. AAON’s dividend payout ratio is currently 14.41%.

Insider Transactions at AAON

In other news, CEO Gary D. Fields sold 20,641 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the sale, the chief executive officer now owns 64,295 shares in the company, valued at $5,542,871.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Norman H. Asbjornson sold 11,022 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $87.41, for a total transaction of $963,433.02. Following the completion of the sale, the director now owns 5,135 shares in the company, valued at $448,850.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary D. Fields sold 20,641 shares of AAON stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $86.21, for a total transaction of $1,779,460.61. Following the completion of the transaction, the chief executive officer now owns 64,295 shares of the company’s stock, valued at $5,542,871.95. This represents 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 company insiders.

Institutional Trading of AAON

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in shares of AAON by 202.0% during the 3rd quarter. Blue Trust Inc. now owns 296 shares of the construction company’s stock worth $32,000 after acquiring an additional 198 shares during the last quarter. ORG Partners LLC bought a new stake in shares of AAON during the 2nd quarter worth $29,000. ORG Wealth Partners LLC bought a new stake in shares of AAON during the 3rd quarter worth $37,000. Crewe Advisors LLC bought a new stake in shares of AAON during the 2nd quarter worth $35,000. Finally, Signaturefd LLC lifted its holdings in shares of AAON by 63.5% during the 2nd quarter. Signaturefd LLC now owns 613 shares of the construction company’s stock worth $53,000 after acquiring an additional 238 shares during the last quarter. 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.