Financial Advocates Investment Management Makes New Investment in A. O. Smith Co. (NYSE:AOS)

Financial Advocates Investment Management acquired a new position in A. O. Smith Co. (NYSE:AOSFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,448 shares of the industrial products company’s stock, valued at approximately $284,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. raised its position in A. O. Smith by 4.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,230 shares of the industrial products company’s stock worth $214,000 after acquiring an additional 145 shares during the period. Avantax Advisory Services Inc. increased its stake in shares of A. O. Smith by 3.2% in the third quarter. Avantax Advisory Services Inc. now owns 4,762 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 148 shares in the last quarter. PAX Financial Group LLC increased its stake in shares of A. O. Smith by 1.7% in the third quarter. PAX Financial Group LLC now owns 10,773 shares of the industrial products company’s stock worth $712,000 after purchasing an additional 179 shares in the last quarter. Addison Advisors LLC increased its stake in shares of A. O. Smith by 36.1% in the third quarter. Addison Advisors LLC now owns 712 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 189 shares in the last quarter. Finally, Guinness Asset Management LTD increased its stake in shares of A. O. Smith by 2.4% in the third quarter. Guinness Asset Management LTD now owns 8,036 shares of the industrial products company’s stock worth $531,000 after purchasing an additional 192 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.

Analysts Set New Price Targets

AOS has been the subject of several recent research reports. Oppenheimer reiterated a “market perform” rating on shares of A. O. Smith in a research note on Thursday, April 18th. Robert W. Baird lifted their target price on shares of A. O. Smith from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Jefferies Financial Group lifted their target price on shares of A. O. Smith from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Stifel Nicolaus reduced their price objective on shares of A. O. Smith from $91.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com cut shares of A. O. Smith from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $90.67.

Check Out Our Latest Research Report on A. O. Smith

Insiders Place Their Bets

In other news, Director Ajita G. Rajendra sold 60,258 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $84.51, for a total transaction of $5,092,403.58. Following the transaction, the director now directly owns 56,951 shares of the company’s stock, valued at $4,812,929.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Ajita G. Rajendra sold 60,258 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $84.51, for a total value of $5,092,403.58. Following the completion of the sale, the director now directly owns 56,951 shares of the company’s stock, valued at approximately $4,812,929.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ajita G. Rajendra sold 24,669 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $83.02, for a total transaction of $2,048,020.38. Following the transaction, the director now owns 56,951 shares in the company, valued at approximately $4,728,072.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,817 shares of company stock worth $7,977,415. 2.70% of the stock is currently owned by company insiders.

A. O. Smith Price Performance

AOS stock opened at $85.74 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.65 and a quick ratio of 1.06. A. O. Smith Co. has a one year low of $63.88 and a one year high of $89.96. The stock has a market cap of $12.58 billion, a PE ratio of 22.21, a P/E/G ratio of 2.34 and a beta of 1.27. The firm has a 50 day simple moving average of $86.43 and a two-hundred day simple moving average of $81.91.

A. O. Smith (NYSE:AOSGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.99 by $0.01. The firm had revenue of $978.80 million for the quarter, compared to the consensus estimate of $995.91 million. A. O. Smith had a return on equity of 30.94% and a net margin of 14.94%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, analysts predict that A. O. Smith Co. will post 4.08 EPS for the current fiscal year.

A. O. Smith Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, April 29th. A. O. Smith’s payout ratio is 33.16%.

A. O. Smith Company Profile

(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.

See Also

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Institutional Ownership by Quarter for A. O. Smith (NYSE:AOS)

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