AQR Capital Management LLC Sells 127,078 Shares of A. O. Smith Corporation $AOS

Key Points

• AQR Capital Management LLC has reduced its stake in A. O. Smith Corporation by 30%, now holding 296,059 shares valued at approximately $19.2 million.
• A. O. Smith's stock rose by 2.6%, reaching $74.38, following its earnings report that surpassed analysts' expectations with $1.07 earnings per share.
• The company declared a quarterly dividend of $0.34 per share, equating to an annualized yield of 1.8%, with a payout ratio of 37.88%.

AQR Capital Management LLC decreased its stake in A. O. Smith Corporation (NYSE:AOS - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,059 shares of the industrial products company's stock after selling 127,078 shares during the quarter. AQR Capital Management LLC owned approximately 0.21% of A. O. Smith worth $19,223,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of A. O. Smith in the 1st quarter valued at $26,000. National Pension Service lifted its holdings in A. O. Smith by 74.8% during the 1st quarter. National Pension Service now owns 458 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 196 shares during the last quarter. TCTC Holdings LLC boosted its position in A. O. Smith by 69.9% in the first quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company's stock valued at $32,000 after buying an additional 202 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in A. O. Smith by 161.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 539 shares of the industrial products company's stock worth $35,000 after buying an additional 333 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of A. O. Smith during the first quarter worth approximately $64,000. 76.10% of the stock is currently owned by institutional investors and hedge funds.

A. O. Smith Trading Down 2.3%

Shares of NYSE AOS traded down $1.70 during mid-day trading on Friday, hitting $72.60. The company's stock had a trading volume of 766,673 shares, compared to its average volume of 1,029,460. A. O. Smith Corporation has a one year low of $58.83 and a one year high of $92.06. The company's fifty day simple moving average is $71.25 and its 200-day simple moving average is $67.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.65 and a quick ratio of 1.03. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25.

A. O. Smith (NYSE:AOS - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $997.89 million. During the same period in the prior year, the business posted $1.06 earnings per share. A. O. Smith's revenue was down 1.3% compared to the same quarter last year. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. On average, sell-side analysts anticipate that A. O. Smith Corporation will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Thursday, July 31st were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. A. O. Smith's payout ratio is 37.88%.

Wall Street Analysts Forecast Growth

AOS has been the topic of several recent analyst reports. UBS Group restated a "neutral" rating and set a $76.00 price target (up from $74.00) on shares of A. O. Smith in a research report on Monday, July 28th. Robert W. Baird increased their target price on A. O. Smith from $76.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Wall Street Zen upgraded A. O. Smith from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Stifel Nicolaus upped their price target on shares of A. O. Smith from $78.00 to $81.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. initiated coverage on shares of A. O. Smith in a research report on Tuesday, June 24th. They issued a "neutral" rating and a $70.00 price objective for the company. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, A. O. Smith currently has a consensus rating of "Hold" and an average price target of $77.43.

Insider Buying and Selling

In related news, Chairman Kevin J. Wheeler sold 22,200 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $71.26, for a total value of $1,581,972.00. Following the completion of the sale, the chairman owned 100,647 shares in the company, valued at approximately $7,172,105.22. This represents a 18.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.76% of the company's stock.

A. O. Smith Company Profile

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.