Everett Harris & Co. CA Acquires New Holdings in A. O. Smith Corporation (NYSE:AOS)

Key Points

• Everett Harris & Co. CA has made a new investment in A. O. Smith Corporation, purchasing 6,100 shares valued at approximately $399,000.
• Insider selling occurred as Chairman Kevin J. Wheeler sold 22,200 shares worth $1,581,972 on July 30, reducing his ownership by 18.07%.
• A. O. Smith recently announced a quarterly dividend of $0.34, resulting in an annualized yield of 1.9%, with a payout ratio of 37.88%.

Everett Harris & Co. CA purchased a new stake in A. O. Smith Corporation (NYSE:AOS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,100 shares of the industrial products company's stock, valued at approximately $399,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Beverly Hills Private Wealth LLC lifted its position in shares of A. O. Smith by 3.1% in the first quarter. Beverly Hills Private Wealth LLC now owns 5,847 shares of the industrial products company's stock worth $382,000 after purchasing an additional 176 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in A. O. Smith by 3.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,532 shares of the industrial products company's stock worth $363,000 after acquiring an additional 177 shares in the last quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its position in A. O. Smith by 1.2% during the first quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 15,607 shares of the industrial products company's stock worth $1,020,000 after acquiring an additional 184 shares in the last quarter. TCTC Holdings LLC raised its position in A. O. Smith by 69.9% during the first quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company's stock worth $32,000 after acquiring an additional 202 shares in the last quarter. Finally, RMR Wealth Builders raised its position in A. O. Smith by 4.5% during the first quarter. RMR Wealth Builders now owns 4,898 shares of the industrial products company's stock worth $320,000 after acquiring an additional 209 shares in the last quarter. Institutional investors own 76.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on AOS shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A. O. Smith in a research report on Tuesday, July 29th. JPMorgan Chase & Co. started coverage on shares of A. O. Smith in a research report on Tuesday, June 24th. They set a "neutral" rating and a $70.00 price target on the stock. UBS Group reaffirmed 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. 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, Oppenheimer upped their price target on shares of 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $77.43.

Insider Activity at A. O. Smith

In other news, Chairman Kevin J. Wheeler sold 22,200 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $71.26, for a total value of $1,581,972.00. Following the completion of the transaction, the chairman owned 100,647 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.76% of the company's stock.

A. O. Smith Stock Performance

Shares of AOS stock traded up $0.85 on Tuesday, hitting $71.38. The company's stock had a trading volume of 946,079 shares, compared to its average volume of 1,569,274. A. O. Smith Corporation has a fifty-two week low of $58.83 and a fifty-two week high of $92.06. The stock's 50 day moving average is $67.69 and its 200-day moving average is $66.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 1.65. The company has a market capitalization of $10.00 billion, a PE ratio of 19.88, a PEG ratio of 1.54 and a beta of 1.22.

A. O. Smith (NYSE:AOS - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $997.89 million. During the same quarter 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. Equities research 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 announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.9%. A. O. Smith's dividend payout ratio is 37.88%.

A. O. Smith 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.