AAON, Inc. (NASDAQ:AAON) Receives $115.50 Average PT from Brokerages

Shares of AAON, Inc. (NASDAQ:AAON - Get Free Report) have been given an average rating of "Buy" by the six ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $115.50.

A number of research firms recently commented on AAON. StockNews.com cut shares of AAON from a "hold" rating to a "sell" rating in a report on Friday, February 28th. DA Davidson dropped their price objective on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th. CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Friday, February 28th. Finally, Robert W. Baird dropped their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th.

AAON Stock Performance

Shares of AAON stock traded up $3.47 during trading hours on Friday, hitting $85.53. 174,139 shares of the company's stock traded hands, compared to its average volume of 728,181. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 37.68 and a beta of 0.96. AAON has a 12-month low of $68.98 and a 12-month high of $144.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The company has a fifty day simple moving average of $84.94 and a 200-day simple moving average of $109.57.

AAON declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 4th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

AAON Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Tuesday, March 18th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.47%. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is presently 19.90%.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart acquired 1,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $80.86 per share, with a total value of $80,860.00. Following the purchase, the director now owns 3,000 shares of the company's stock, valued at approximately $242,580. This trade represents a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 18.55% of the company's stock.

Institutional Trading of AAON

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in shares of AAON by 6.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,868 shares of the construction company's stock valued at $455,000 after acquiring an additional 244 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of AAON by 5,040.4% during the fourth quarter. Avior Wealth Management LLC now owns 2,416 shares of the construction company's stock valued at $284,000 after purchasing an additional 2,369 shares during the period. SG Americas Securities LLC grew its holdings in shares of AAON by 691.1% in the fourth quarter. SG Americas Securities LLC now owns 24,666 shares of the construction company's stock worth $2,903,000 after purchasing an additional 21,548 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in AAON by 39.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 288,581 shares of the construction company's stock valued at $31,121,000 after buying an additional 81,111 shares during the last quarter. Finally, Caldwell Investment Management Ltd. purchased a new stake in AAON during the 4th quarter valued at $1,099,000. 70.81% of the stock is currently owned by hedge funds and other 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.