Corebridge Financial Inc. Decreases Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Corebridge Financial Inc. reduced its position in shares of AAON, Inc. (NASDAQ:AAON - Free Report) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 77,108 shares of the construction company's stock after selling 3,218 shares during the quarter. Corebridge Financial Inc. owned about 0.09% of AAON worth $9,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mather Group LLC. grew its position in AAON by 521.6% in the fourth quarter. Mather Group LLC. now owns 230 shares of the construction company's stock worth $27,000 after acquiring an additional 193 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of AAON in the 4th quarter worth approximately $33,000. Westside Investment Management Inc. purchased a new stake in AAON during the 3rd quarter valued at $36,000. UMB Bank n.a. lifted its position in AAON by 67.5% in the fourth quarter. UMB Bank n.a. now owns 325 shares of the construction company's stock worth $38,000 after buying an additional 131 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in AAON by 28.4% during the fourth quarter. Blue Trust Inc. now owns 380 shares of the construction company's stock worth $41,000 after buying an additional 84 shares during the period. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AAON. Robert W. Baird reduced their target price 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. CJS Securities raised shares of AAON from a "market perform" rating to an "outperform" rating and set a $110.00 price objective on the stock in a research report on Friday, February 28th. StockNews.com lowered AAON from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Finally, DA Davidson reduced their price target on AAON from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $115.50.

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AAON Trading Up 1.3 %

AAON stock traded up $1.03 during trading hours on Tuesday, hitting $79.16. The company had a trading volume of 722,294 shares, compared to its average volume of 706,510. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The firm has a market cap of $6.46 billion, a P/E ratio of 34.87 and a beta of 1.00. The company has a 50-day moving average price of $98.71 and a two-hundred day moving average price of $112.74. AAON, Inc. has a 1 year low of $69.52 and a 1 year high of $144.07.

AAON Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 18th were paid a $0.10 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.40 annualized dividend and a yield of 0.51%. This is a boost from AAON's previous quarterly dividend of $0.08. AAON's dividend payout ratio is 19.90%.

AAON declared that its board has initiated a share buyback plan on Tuesday, March 4th that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 0.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at AAON

In other AAON news, Director David Raymond Stewart bought 1,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $80.86 per share, for a total transaction of $80,860.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $242,580. The trade was a 50.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 18.55% of the stock is currently owned by corporate insiders.

AAON 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.