AAON, Inc. (NASDAQ:AAON) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lowered its stake in AAON, Inc. (NASDAQ:AAON - Free Report) by 22.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,895 shares of the construction company's stock after selling 8,174 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in AAON were worth $3,400,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AAON. Norges Bank purchased a new stake in AAON during the fourth quarter worth about $76,581,000. Raymond James Financial Inc. purchased a new stake in AAON during the fourth quarter worth about $73,313,000. First Trust Advisors LP increased its stake in AAON by 85.6% during the fourth quarter. First Trust Advisors LP now owns 1,069,112 shares of the construction company's stock worth $125,813,000 after purchasing an additional 493,219 shares during the period. Alyeska Investment Group L.P. purchased a new stake in AAON during the fourth quarter worth about $42,449,000. Finally, Invesco Ltd. increased its stake in AAON by 15.6% during the fourth quarter. Invesco Ltd. now owns 2,032,497 shares of the construction company's stock worth $239,184,000 after purchasing an additional 274,119 shares during the period. Institutional investors and hedge funds own 70.81% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AAON. Robert W. Baird cut their price target on shares of AAON from $155.00 to $116.00 and set an "outperform" rating on the stock in a research note on Friday, February 28th. Wall Street Zen lowered shares of AAON from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. DA Davidson cut their price target on shares of AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, CJS Securities upgraded shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.50.

Insider Buying and Selling

In other AAON news, Director Gordon Douglas Wichman sold 3,975 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $105.75, for a total value of $420,356.25. Following the transaction, the director now directly owns 8,754 shares in the company, valued at $925,735.50. This represents a 31.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary D. Fields sold 37,189 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $98.20, for a total transaction of $3,651,959.80. Following the completion of the transaction, the chief executive officer now owns 63,714 shares in the company, valued at $6,256,714.80. This represents a 36.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,823 shares of company stock worth $7,122,451. Company insiders own 18.70% of the company's stock.

AAON Stock Up 0.2%

Shares of AAON stock traded up $0.22 during trading hours on Friday, reaching $96.37. 525,123 shares of the stock were exchanged, compared to its average volume of 662,776. The business's fifty day moving average is $89.78 and its two-hundred day moving average is $106.27. 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, Inc. has a 12-month low of $68.98 and a 12-month high of $144.07. The firm has a market capitalization of $7.84 billion, a P/E ratio of 42.45 and a beta of 1.06.

AAON (NASDAQ:AAON - Get Free Report) last released its earnings results on Wednesday, April 30th. The construction company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.13. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm had revenue of $322.05 million for the quarter, compared to analyst estimates of $289.16 million. During the same period in the prior year, the firm earned $0.46 earnings per share. The business's quarterly revenue was up 22.9% compared to the same quarter last year. As a group, research analysts expect that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. AAON's payout ratio is 21.05%.

AAON declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

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.