Invesco Ltd. Has $327.55 Million Stock Holdings in A. O. Smith Corporation (NYSE:AOS)

Key Points

• Invesco Ltd. increased its stake in A. O. Smith Corporation by 6.5% during the first quarter, owning approximately 5 million shares valued at $327.55 million.
• A. O. Smith's most recent earnings report showed an EPS of $1.07, exceeding analyst expectations, despite a 1.3% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.34, with an annualized yield of 1.9%, payable on August 15th.

Invesco Ltd. lifted its position in A. O. Smith Corporation (NYSE:AOS - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,011,496 shares of the industrial products company's stock after acquiring an additional 307,201 shares during the period. Invesco Ltd. owned approximately 3.48% of A. O. Smith worth $327,551,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AOS. Renaissance Technologies LLC raised its position in shares of A. O. Smith by 460.5% in the 4th quarter. Renaissance Technologies LLC now owns 245,500 shares of the industrial products company's stock valued at $16,746,000 after acquiring an additional 201,700 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of A. O. Smith in the 4th quarter valued at approximately $7,015,000. Sterling Capital Management LLC raised its position in shares of A. O. Smith by 56.7% in the 4th quarter. Sterling Capital Management LLC now owns 7,124 shares of the industrial products company's stock valued at $486,000 after acquiring an additional 2,578 shares during the period. Townsquare Capital LLC acquired a new stake in shares of A. O. Smith in the 4th quarter valued at approximately $675,000. Finally, Barclays PLC raised its position in shares of A. O. Smith by 4.8% in the 4th quarter. Barclays PLC now owns 252,889 shares of the industrial products company's stock valued at $17,249,000 after acquiring an additional 11,560 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AOS has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of A. O. Smith in a report on Tuesday, July 29th. Stifel Nicolaus lifted their price objective on A. O. Smith from $78.00 to $81.00 and gave the company a "buy" rating in a report on Monday, July 21st. UBS Group reiterated a "neutral" rating and set a $76.00 price objective (up previously from $74.00) on shares of A. O. Smith in a report on Monday, July 28th. Citigroup cut their price objective on A. O. Smith from $69.00 to $65.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. initiated coverage on A. O. Smith in a report on Tuesday, June 24th. They set a "neutral" rating and a $70.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, A. O. Smith has a consensus rating of "Hold" and a consensus target price of $77.43.

Insider Transactions at A. O. Smith

In related news, Chairman Kevin J. Wheeler sold 22,200 shares of A. O. Smith stock in a transaction that occurred on 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 sale, the chairman owned 100,647 shares of the company's stock, valued at approximately $7,172,105.22. This trade represents a 18.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company's stock.

A. O. Smith Stock Down 0.4%

Shares of A. O. Smith stock opened at $70.55 on Tuesday. The business's 50 day simple moving average is $67.69 and its 200 day simple moving average is $66.73. A. O. Smith Corporation has a 52-week low of $58.83 and a 52-week high of $92.06. The firm has a market cap of $9.89 billion, a PE ratio of 19.65, a P/E/G ratio of 1.54 and a beta of 1.22. 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 (NYSE:AOS - Get Free Report) last announced its earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.10. A. O. Smith had a return on equity of 28.42% and a net margin of 13.68%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $997.89 million. During the same quarter last year, the firm earned $1.06 EPS. A. O. Smith's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, analysts predict that A. O. Smith Corporation will post 3.76 earnings per share for the current fiscal year.

A. O. Smith Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Thursday, July 31st. A. O. Smith's dividend payout ratio (DPR) is currently 37.88%.

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.

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