AAON (NASDAQ:AAON) Shares Down 6.4% Following Insider Selling

Key Points

• Shares fell 6.4% intraday after CAO Rebecca Thompson sold a total of 9,579 shares (7,292 on April 23 and 2,287 on April 21) at about $100.10, leaving her with 27,681 shares and prompting heavier-than-normal trading.
• Analyst sentiment is generally positive—five Buys and two Holds for a consensus "Moderate Buy" and a $107.75 target—while AAON recently missed quarterly EPS by $0.06 despite revenue rising 42.5% year-over-year and trading at a high P/E of ~71.7.

AAON, Inc. (NASDAQ:AAON - Get Free Report)'s share price was down 6.4% during trading on Monday after an insider sold shares in the company. The stock traded as low as $92.95 and last traded at $93.17. Approximately 816,841 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 906,190 shares. The stock had previously closed at $99.59.

Specifically, CAO Rebecca Thompson sold 7,292 shares of the business's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $100.10, for a total value of $729,929.20. Following the completion of the transaction, the chief accounting officer owned 27,681 shares in the company, valued at $2,770,868.10. The trade was a 20.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Rebecca Thompson sold 2,287 shares of the business's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $100.11, for a total transaction of $228,951.57. Following the transaction, the chief accounting officer owned 27,681 shares of the company's stock, valued at approximately $2,771,144.91. The trade was a 7.63% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AAON shares. William Blair reiterated an "outperform" rating on shares of AAON in a research note on Monday, March 2nd. Wall Street Zen raised shares of AAON from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of AAON in a report on Wednesday, January 21st. DA Davidson reissued a "buy" rating and set a $120.00 price target on shares of AAON in a report on Tuesday, February 3rd. Finally, Oppenheimer restated an "outperform" rating and set a $118.00 target price (up from $115.00) on shares of AAON in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, AAON has an average rating of "Moderate Buy" and a consensus price target of $107.75.

AAON Stock Performance

The stock's 50-day moving average is $90.85 and its 200-day moving average is $91.03. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 71.67, a price-to-earnings-growth ratio of 3.11 and a beta of 1.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.63 and a quick ratio of 1.84.

AAON (NASDAQ:AAON - Get Free Report) last announced its earnings results on Monday, March 2nd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.06). AAON had a return on equity of 13.13% and a net margin of 7.46%.The firm had revenue of $424.22 million for the quarter, compared to analyst estimates of $374.10 million. During the same quarter last year, the business posted $0.30 EPS. The firm's revenue was up 42.5% compared to the same quarter last year. Analysts anticipate that AAON, Inc. will post 2 EPS for the current fiscal year.

AAON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Wednesday, March 18th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. AAON's payout ratio is presently 30.77%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AAON. EverSource Wealth Advisors LLC boosted its stake in AAON by 96.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 334 shares of the construction company's stock valued at $25,000 after purchasing an additional 164 shares during the period. CBIZ Investment Advisory Services LLC acquired a new stake in shares of AAON during the third quarter valued at approximately $26,000. Jones Financial Companies Lllp raised its holdings in shares of AAON by 59.5% during the third quarter. Jones Financial Companies Lllp now owns 378 shares of the construction company's stock valued at $34,000 after acquiring an additional 141 shares during the period. Summit Securities Group LLC purchased a new position in AAON during the fourth quarter valued at approximately $45,000. Finally, Danske Bank A S purchased a new position in AAON during the third quarter valued at approximately $47,000. 70.81% of the stock is owned by institutional investors and hedge funds.

AAON Company Profile

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.

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