Corebridge Financial Inc. Sells 3,218 Shares of AAON, Inc. (NASDAQ:AAON)

Corebridge Financial Inc. decreased its stake in AAON, Inc. (NASDAQ:AAON) by 4.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 77,108 shares of the construction company’s stock after selling 3,218 shares during the period. Corebridge Financial Inc.’s holdings in AAON were worth $9,074,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Mather Group LLC. boosted its stake in shares of AAON by 521.6% in the 4th quarter. Mather Group LLC. now owns 230 shares of the construction company’s stock valued at $27,000 after purchasing an additional 193 shares in the last quarter. Twin Tree Management LP acquired a new position in AAON in the fourth quarter valued at about $33,000. Westside Investment Management Inc. acquired a new position in AAON in the third quarter valued at about $36,000. UMB Bank n.a. grew its stake in AAON by 67.5% during 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. increased its holdings in shares of 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 in the last quarter. 70.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 stock was bought at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $242,580. The trade was a 50.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 18.55% of the company’s stock.

AAON Stock Down 1.5 %

NASDAQ AAON opened at $80.24 on Friday. The stock has a market capitalization of $6.55 billion, a P/E ratio of 35.35 and a beta of 1.00. AAON, Inc. has a 52 week low of $69.52 and a 52 week high of $144.07. 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 stock has a fifty day moving average of $100.79 and a 200-day moving average of $112.60.

AAON announced that its board has approved a share repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 0.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

AAON Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Tuesday, March 18th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.50%. This is a positive change from AAON’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Tuesday, March 18th. AAON’s dividend payout ratio (DPR) is presently 19.90%.

Wall Street Analysts Forecast Growth

AAON has been the topic of several recent analyst reports. CJS Securities raised AAON from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a report on Friday, February 28th. DA Davidson decreased their target price on AAON from $150.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Robert W. Baird cut their price target on AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a report on Friday, February 28th. Finally, StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.50.

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.