AAON, Inc. (NASDAQ:AAON) Director David Raymond Stewart Acquires 1,000 Shares

by · The Markets Daily

AAON, Inc. (NASDAQ:AAON – Get Free Report) Director David Raymond Stewart purchased 1,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, with a total value of $80,860.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

AAON Stock Up 4.6 %

AAON stock traded up $3.59 during midday trading on Friday, reaching $81.90. The company’s stock had a trading volume of 223,555 shares, compared to its average volume of 659,004. AAON, Inc. has a fifty-two week low of $69.52 and a fifty-two week high of $144.07. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.68 billion, a P/E ratio of 36.19 and a beta of 1.00. The business has a 50-day simple moving average of $109.26 and a 200-day simple moving average of $113.32.

AAON announced that its board has authorized a share buyback plan 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 plans are usually an indication that the company’s board of directors believes its shares are undervalued.

AAON Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a boost from AAON’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. AAON’s dividend payout ratio (DPR) is currently 19.90%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. DA Davidson lowered their price target on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, February 28th. StockNews.com lowered AAON from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. CJS Securities upgraded AAON from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Friday, February 28th. Finally, Robert W. Baird reduced 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.50.

Read Our Latest Stock Analysis on AAON

Institutional Trading of AAON

A number of hedge funds and other institutional investors have recently bought and sold shares of AAON. Mather Group LLC. raised its stake in AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after buying an additional 193 shares in the last quarter. Twin Tree Management LP acquired a new stake in AAON in the fourth quarter valued at $33,000. Westside Investment Management Inc. acquired a new stake in AAON in the third quarter valued at $36,000. Quarry LP grew its holdings in shares of AAON by 49.0% during the fourth quarter. Quarry LP now owns 313 shares of the construction company’s stock worth $37,000 after purchasing an additional 103 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of AAON by 67.5% during the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company’s stock worth $38,000 after purchasing an additional 131 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

AAON Company Profile

(Get Free Report)

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.

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