AAON (NASDAQ:AAON) Trading Down 4.8% on Insider Selling

AAON, Inc. (NASDAQ:AAON)’s stock price fell 4.8% during trading on Tuesday following insider selling activity. The stock traded as low as $127.57 and last traded at $128.16. 187,232 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 586,501 shares. The stock had previously closed at $134.66.

Specifically, VP Stephen E. Wakefield sold 5,362 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $130.99, for a total transaction of $702,368.38. Following the completion of the transaction, the vice president now owns 4,558 shares in the company, valued at $597,052.42. The trade was a 54.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AAON shares. Sidoti lowered AAON from a “buy” rating to a “neutral” rating and boosted their price target for the company from $102.00 to $111.00 in a report on Tuesday, October 22nd. Baird R W upgraded AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. StockNews.com upgraded AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Robert W. Baird boosted their price target on AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, DA Davidson boosted their price objective on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two 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 stock. Based on data from MarketBeat, AAON presently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

AAON Stock Down 4.8 %

The business’s 50 day moving average is $124.36 and its 200 day moving average is $101.52. The company has a market cap of $10.42 billion, a P/E ratio of 59.32 and a beta of 0.83. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07.

AAON (NASDAQ:AAON) last issued its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $327.25 million for the quarter, compared to the consensus estimate of $315.80 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, equities analysts anticipate that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, November 29th. AAON’s payout ratio is presently 14.10%.

Hedge Funds Weigh In On AAON

A number of large investors have recently made changes to their positions in the business. Conestoga Capital Advisors LLC increased its position in shares of AAON by 1.9% during the third quarter. Conestoga Capital Advisors LLC now owns 2,125,186 shares of the construction company’s stock worth $229,180,000 after purchasing an additional 39,059 shares in the last quarter. State Street Corp increased its position in shares of AAON by 0.6% in the 3rd quarter. State Street Corp now owns 1,977,531 shares of the construction company’s stock valued at $213,257,000 after acquiring an additional 12,502 shares during the period. Wasatch Advisors LP increased its position in shares of AAON by 39.1% in the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock valued at $201,310,000 after acquiring an additional 525,132 shares during the period. FMR LLC increased its position in shares of AAON by 9.6% in the 3rd quarter. FMR LLC now owns 1,729,498 shares of the construction company’s stock valued at $186,509,000 after acquiring an additional 151,540 shares during the period. Finally, Geneva Capital Management LLC increased its position in shares of AAON by 1.5% in the 3rd quarter. Geneva Capital Management LLC now owns 1,698,207 shares of the construction company’s stock valued at $183,135,000 after acquiring an additional 24,384 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.