TD Asset Management Inc cut its stake in A. O. Smith Corporation (NYSE:AOS - Free Report) by 76.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,939 shares of the industrial products company's stock after selling 101,296 shares during the period. TD Asset Management Inc's holdings in A. O. Smith were worth $2,088,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in A. O. Smith by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 178,543 shares of the industrial products company's stock worth $11,670,000 after buying an additional 15,769 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in A. O. Smith by 41.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,089 shares of the industrial products company's stock valued at $463,000 after acquiring an additional 2,084 shares during the last quarter. Envestnet Asset Management Inc. increased its position in A. O. Smith by 75.8% in the first quarter. Envestnet Asset Management Inc. now owns 402,039 shares of the industrial products company's stock worth $26,277,000 after purchasing an additional 173,366 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in A. O. Smith by 18.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,085 shares of the industrial products company's stock worth $528,000 after purchasing an additional 1,251 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in A. O. Smith by 3.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,532 shares of the industrial products company's stock valued at $363,000 after purchasing an additional 177 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on AOS. Weiss Ratings restated a "hold (c)" rating on shares of A. O. Smith in a report on Tuesday, July 29th. UBS Group raised their price target on A. O. Smith from $74.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Stifel Nicolaus lifted their price objective on A. O. Smith from $78.00 to $81.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. initiated coverage on A. O. Smith in a research note on Tuesday, June 24th. They issued a "neutral" rating and a $70.00 target price on the stock. Finally, Oppenheimer boosted their target price on A. O. Smith from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $77.43.
Get Our Latest Report on AOS
A. O. Smith Trading Down 0.1%
Shares of A. O. Smith stock traded down $0.08 on Monday, hitting $70.34. The stock had a trading volume of 1,111,316 shares, compared to its average volume of 1,590,288. The stock has a 50 day moving average of $67.06 and a 200 day moving average of $66.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.65. A. O. Smith Corporation has a twelve month low of $58.83 and a twelve month high of $92.06. The firm has a market capitalization of $9.86 billion, a P/E ratio of 19.59, a PEG ratio of 1.53 and a beta of 1.22.
A. O. Smith (NYSE:AOS - Get Free Report) last released its earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.10. A. O. Smith had a net margin of 13.68% and a return on equity of 28.42%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $997.89 million. During the same quarter in the prior year, the firm posted $1.06 EPS. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. Sell-side analysts expect that A. O. Smith Corporation will post 3.76 earnings per share for the current fiscal year.
A. O. Smith Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, July 31st. A. O. Smith's dividend payout ratio is 37.88%.
Insider Activity
In related news, Chairman Kevin J. Wheeler sold 22,200 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $71.26, for a total transaction of $1,581,972.00. Following the transaction, the chairman directly owned 100,647 shares of the company's stock, valued at approximately $7,172,105.22. This represents a 18.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by company insiders.
A. O. Smith Company Profile
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Free Report)
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, heat pumps, tanks, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels, office buildings, laundries, car washes, and small businesses; boilers for hospitals, schools, hotels, and other large commercial buildings, as well as homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, and point-of-use carbon and reverse osmosis products for residences, restaurants, hotels, and offices.
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