AAON (NASDAQ:AAON) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

AAON (NASDAQ:AAON) announced its earnings results on Monday. The construction company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.13), Zacks reports. AAON had a net margin of 12.60% and a return on equity of 20.23%.

AAON Trading Down 2.7%

NASDAQ AAON opened at $80.52 on Monday. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 42.38 and a beta of 0.94. AAON has a 12 month low of $68.98 and a 12 month high of $144.07. The company’s fifty day moving average price is $78.96 and its two-hundred day moving average price is $88.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.77 and a quick ratio of 1.80.

AAON Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, June 6th. AAON’s dividend payout ratio is 21.05%.

Insider Buying and Selling at AAON

In other AAON news, Director Gordon Douglas Wichman sold 21,302 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $104.48, for a total transaction of $2,225,632.96. Following the sale, the director directly owned 8,754 shares of the company’s stock, valued at approximately $914,617.92. This represents a 70.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.70% of the company’s stock.

Institutional Trading of AAON

A number of institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC increased its holdings in shares of AAON by 1.8% in the 1st quarter. NewEdge Advisors LLC now owns 16,267 shares of the construction company’s stock worth $1,271,000 after acquiring an additional 294 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AAON by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,002 shares of the construction company’s stock worth $18,204,000 after acquiring an additional 12,489 shares during the period. Millennium Management LLC increased its holdings in shares of AAON by 429.3% in the 1st quarter. Millennium Management LLC now owns 81,145 shares of the construction company’s stock worth $6,340,000 after acquiring an additional 65,813 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of AAON by 20.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 430,936 shares of the construction company’s stock worth $33,669,000 after acquiring an additional 73,644 shares during the period. 70.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAON has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of AAON from a “sell” rating to a “hold” rating in a research note on Saturday. Sidoti upgraded shares of AAON from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Monday, June 16th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $111.50.

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.