AAON, Inc. (NASDAQ:AAON) Plans Quarterly Dividend of $0.08

AAON, Inc. (NASDAQ:AAON) announced a quarterly dividend on Monday, November 11th,RTT News reports. Stockholders 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 dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, November 29th.

AAON has increased its dividend by an average of 8.1% per year over the last three years. AAON has a dividend payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Equities 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

AAON stock opened at $140.45 on Wednesday. AAON has a 12-month low of $61.09 and a 12-month high of $144.07. The stock has a 50-day simple moving average of $115.75 and a 200 day simple moving average of $95.40. 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 stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 60.61 and a beta of 0.79.

AAON (NASDAQ:AAON) last announced its earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $327.25 million for the quarter, compared to analyst estimates of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. AAON’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. On average, research analysts anticipate that AAON will post 2.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Stephen E. Wakefield sold 5,750 shares of the firm’s 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 transaction, the vice president now owns 9,920 shares of the company’s stock, valued at approximately $1,387,411.20. This trade represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Casey Kidwell sold 1,421 shares of AAON stock in a transaction on Monday, November 18th. The shares were sold at an average price of $135.14, for a total transaction of $192,033.94. Following the completion of the sale, the vice president now owns 4,953 shares in the company, valued at $669,348.42. The trade was a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,967 shares of company stock worth $6,271,357 over the last ninety days. Company insiders own 18.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AAON shares. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Robert W. Baird increased their price target on shares of AAON from $130.00 to $138.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. DA Davidson lifted their price objective on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Sidoti lowered shares of AAON from a “buy” rating to a “neutral” rating and increased their target price for the stock from $102.00 to $111.00 in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.