AAON (NASDAQ:AAON) Stock Price Down 4.7% – Should You Sell?

AAON, Inc. (NASDAQ:AAON) shares traded down 4.7% during mid-day trading on Tuesday . The stock traded as low as $73.79 and last traded at $77.66. 179,907 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 906,132 shares. The stock had previously closed at $81.48.

Analyst Ratings Changes

Several brokerages recently commented on AAON. William Blair restated an “outperform” rating on shares of AAON in a research report on Tuesday, December 30th. Zacks Research upgraded shares of AAON from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Oppenheimer reiterated an “outperform” rating and issued a $115.00 price objective on shares of AAON in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of AAON in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, AAON has a consensus rating of “Moderate Buy” and a consensus target price of $104.60.

AAON Price Performance

The company has a current ratio of 3.04, a quick ratio of 2.03 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average price is $87.84 and its two-hundred day moving average price is $86.10. The stock has a market cap of $6.36 billion, a P/E ratio of 64.35 and a beta of 1.08.

AAON (NASDAQ:AAON) last posted its earnings results on Tuesday, June 10th. The construction company reported $0.37 earnings per share for the quarter. AAON had a return on equity of 12.52% and a net margin of 7.62%.The firm had revenue of $322.05 million for the quarter. As a group, sell-side analysts expect that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Wednesday, November 26th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 26th. AAON’s dividend payout ratio is currently 33.06%.

Insider Transactions at AAON

In other AAON news, EVP Stephen E. Wakefield acquired 4,141 shares of AAON stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average cost of $77.59 per share, for a total transaction of $321,300.19. Following the acquisition, the executive vice president owned 15,212 shares of the company’s stock, valued at $1,180,299.08. This represents a 37.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary D. Fields sold 3,553 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $105.14, for a total transaction of $373,562.42. Following the transaction, the director owned 26,340 shares in the company, valued at approximately $2,769,387.60. This trade represents a 11.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 18.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AAON

Several institutional investors have recently made changes to their positions in AAON. Wellington Management Group LLP lifted its position in AAON by 512.5% during the third quarter. Wellington Management Group LLP now owns 4,739,892 shares of the construction company’s stock valued at $442,896,000 after purchasing an additional 3,966,088 shares in the last quarter. Champlain Investment Partners LLC grew its position in shares of AAON by 96.4% during the third quarter. Champlain Investment Partners LLC now owns 2,320,319 shares of the construction company’s stock valued at $216,811,000 after purchasing an additional 1,138,658 shares in the last quarter. Blair William & Co. IL increased its stake in AAON by 4.7% in the 2nd quarter. Blair William & Co. IL now owns 2,280,070 shares of the construction company’s stock worth $168,155,000 after acquiring an additional 102,382 shares during the last quarter. Wasatch Advisors LP raised its stake in AAON by 27.1% during the third quarter. Wasatch Advisors LP now owns 2,138,959 shares of the construction company’s stock valued at $199,864,000 after purchasing an additional 456,560 shares in the last quarter. Finally, Geneva Capital Management LLC lifted its holdings in shares of AAON by 7.3% in the 2nd quarter. Geneva Capital Management LLC now owns 2,036,752 shares of the construction company’s stock valued at $150,210,000 after acquiring an additional 139,024 shares during the last quarter. Institutional investors own 70.81% of the company’s stock.

About AAON

AAON, Inc (NASDAQ: AAON) is a U.S.-based designer and manufacturer of heating, ventilation and air conditioning (HVAC) equipment for commercial and industrial applications. The company’s product portfolio focuses on rooftop packaged units, water-source heat pumps, chillers and custom-engineered solutions that cater to a wide array of building types, from office complexes and schools to data centers and healthcare facilities.

AAON’s core offerings include rooftop units available in gas, electric and dual-fuel configurations, precision air-conditioning systems for temperature- and humidity-sensitive environments, and modular chillers suited for both indoor and outdoor installations.