New York State Teachers Retirement System lessened its position in shares of A. O. Smith Corporation (NYSE:AOS - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,128 shares of the industrial products company's stock after selling 9,610 shares during the quarter. New York State Teachers Retirement System owned 0.06% of A. O. Smith worth $5,695,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in AOS. New Age Alpha Advisors LLC acquired a new position in A. O. Smith during the fourth quarter valued at $66,000. Intact Investment Management Inc. acquired a new position in A. O. Smith during the first quarter valued at $72,000. Canada Post Corp Registered Pension Plan acquired a new position in A. O. Smith during the fourth quarter valued at $84,000. Signaturefd LLC lifted its position in A. O. Smith by 40.0% during the fourth quarter. Signaturefd LLC now owns 1,299 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 371 shares during the period. Finally, Parallel Advisors LLC lifted its position in A. O. Smith by 40.4% during the first quarter. Parallel Advisors LLC now owns 1,571 shares of the industrial products company's stock valued at $103,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 76.10% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently issued reports on AOS shares. Robert W. Baird boosted their target price on shares of A. O. Smith from $75.00 to $76.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of A. O. Smith in a research report on Friday, June 27th. 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. Citigroup decreased their price objective on shares of A. O. Smith from $69.00 to $65.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus upped their price objective on shares of A. O. Smith from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $75.29.
Get Our Latest Stock Analysis on AOS
A. O. Smith Price Performance
Shares of AOS traded up $1.06 during mid-day trading on Wednesday, hitting $69.52. 1,346,338 shares of the company were exchanged, compared to its average volume of 1,300,002. A. O. Smith Corporation has a 1-year low of $58.83 and a 1-year high of $92.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.61. The company has a 50 day moving average of $66.43 and a 200-day moving average of $66.62. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20.
A. O. Smith (NYSE:AOS - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $963.90 million during the quarter, compared to the consensus estimate of $950.56 million. A. O. Smith had a net margin of 13.74% and a return on equity of 28.39%. The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. Analysts expect that A. O. Smith Corporation will post 3.76 EPS for the current fiscal year.
A. O. Smith Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a $0.34 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.96%. A. O. Smith's payout ratio is 37.99%.
About A. O. Smith
(
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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