Corebridge Financial Inc. Has $9.07 Million Stake in AAON, Inc. (NASDAQ:AAON)

Corebridge Financial Inc. lowered its position in AAON, Inc. (NASDAQ:AAON) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,108 shares of the construction company’s stock after selling 3,218 shares during the period. Corebridge Financial Inc. owned 0.09% of AAON worth $9,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of AAON by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,239,482 shares of the construction company’s stock worth $734,262,000 after purchasing an additional 75,832 shares during the last quarter. LPL Financial LLC increased its position in AAON by 11.2% during the fourth quarter. LPL Financial LLC now owns 42,049 shares of the construction company’s stock worth $4,948,000 after buying an additional 4,245 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in AAON during the fourth quarter valued at about $1,700,000. American Century Companies Inc. lifted its position in shares of AAON by 19.3% in the fourth quarter. American Century Companies Inc. now owns 68,760 shares of the construction company’s stock worth $8,092,000 after buying an additional 11,140 shares during the last quarter. Finally, HUB Investment Partners LLC boosted its stake in shares of AAON by 5.2% during the 4th quarter. HUB Investment Partners LLC now owns 2,016 shares of the construction company’s stock worth $237,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AAON shares. DA Davidson decreased their target price on AAON from $150.00 to $125.00 and set a “buy” rating for the company in a research report 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 for the company in a report on Friday, February 28th. StockNews.com lowered shares of AAON from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Robert W. Baird cut their target price on shares of AAON from $155.00 to $116.00 and set an “outperform” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.50.

Insider Buying and Selling

In other AAON news, Director David Raymond Stewart purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $80.86 per share, for a total transaction of $80,860.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $242,580. This represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.55% of the stock is owned by company insiders.

AAON Price Performance

Shares of AAON stock opened at $80.24 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The company has a market cap of $6.55 billion, a PE ratio of 35.35 and a beta of 1.00. The firm has a fifty day moving average price of $100.79 and a two-hundred day moving average price of $112.60. AAON, Inc. has a fifty-two week low of $69.52 and a fifty-two week high of $144.07.

AAON Increases Dividend

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

AAON announced that its Board of Directors has authorized a stock repurchase 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 repurchase up to 0.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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.