Precedent Wealth Partners LLC Takes $1.57 Million Position in A. O. Smith Corporation (NYSE:AOS)

Precedent Wealth Partners LLC bought 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. The firm bought 24,065 shares of the industrial products company's stock, valued at approximately $1,573,000.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in A. O. Smith during the 4th quarter valued at $96,180,000. Sarasin & Partners LLP acquired a new stake in A. O. Smith during the first quarter worth $74,180,000. Invesco Ltd. increased its holdings in A. O. Smith by 26.8% in the 4th quarter. Invesco Ltd. now owns 4,704,295 shares of the industrial products company's stock valued at $320,880,000 after buying an additional 995,043 shares during the period. Voloridge Investment Management LLC raised its stake in shares of A. O. Smith by 242.8% in the 4th quarter. Voloridge Investment Management LLC now owns 627,282 shares of the industrial products company's stock valued at $42,787,000 after buying an additional 444,307 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of A. O. Smith by 19.0% during the 4th quarter. First Trust Advisors LP now owns 2,618,191 shares of the industrial products company's stock worth $178,587,000 after acquiring an additional 417,595 shares during the period. 76.10% of the stock is owned by institutional investors.

A. O. Smith Trading Down 0.3%

Shares of AOS stock traded down $0.20 on Thursday, reaching $63.03. 1,198,803 shares of the stock were exchanged, compared to its average volume of 1,274,823. The stock has a 50 day moving average price of $65.86 and a 200 day moving average price of $67.22. The stock has a market cap of $8.96 billion, a PE ratio of 17.61, a P/E/G ratio of 1.41 and a beta of 1.21. A. O. Smith Corporation has a one year low of $58.83 and a one year high of $92.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.61 and a quick ratio of 1.01.

A. O. Smith (NYSE:AOS - Get Free Report) last released its earnings results on Tuesday, April 29th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. A. O. Smith had a net margin of 13.74% and a return on equity of 28.39%. The company had revenue of $963.90 million for the quarter, compared to the consensus estimate of $950.56 million. During the same period in the prior year, the company posted $1.00 EPS. The company's revenue was down 1.5% compared to the same quarter last year. Equities research analysts forecast that A. O. Smith Corporation will post 3.76 EPS for the current fiscal year.

A. O. Smith Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Wednesday, April 30th. A. O. Smith's payout ratio is 37.99%.

Analysts Set New Price Targets

AOS has been the subject of a number of analyst reports. Citigroup cut their price target on shares of A. O. Smith from $69.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Robert W. Baird increased their price target on A. O. Smith from $75.00 to $76.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Stifel Nicolaus lifted their price objective on A. O. Smith from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of A. O. Smith in a report on Wednesday, June 11th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $76.17.

About A. O. Smith

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.