AAON, Inc. (NASDAQ:AAON) to Issue $0.08 Quarterly Dividend

AAON, Inc. (NASDAQ:AAON) announced a quarterly dividend on Monday, November 11th,RTT News reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.08 per share by the construction company on Thursday, December 19th. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Friday, November 29th.

AAON has raised its dividend by an average of 8.1% annually over the last three years. AAON has a payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Analysts expect AAON to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.7%.

AAON Stock Performance

NASDAQ AAON opened at $136.03 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. AAON has a 1-year low of $61.09 and a 1-year high of $144.07. The firm has a market capitalization of $11.06 billion, a P/E ratio of 59.93 and a beta of 0.79. The business’s 50-day simple moving average is $117.42 and its 200-day simple moving average is $96.13.

AAON (NASDAQ:AAON) last announced its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm had revenue of $327.25 million for the quarter, compared to analysts’ expectations of $315.80 million. During the same period in the previous year, the company posted $0.64 earnings per share. AAON’s revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that AAON will post 2.26 EPS for the current year.

Insider Buying and Selling

In related news, VP Stephen E. Wakefield sold 5,750 shares of AAON stock in a transaction on Monday, November 25th. The shares were sold at an average price of $139.86, for a total value of $804,195.00. Following the completion of the sale, the vice president now owns 9,920 shares in the company, valued at approximately $1,387,411.20. The trade was a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Casey Kidwell sold 4,796 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the completion of the sale, the vice president now directly owns 4,953 shares in the company, valued at $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,967 shares of company stock worth $6,271,357. 18.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.