Allspring Global Investments Holdings LLC Cuts Stock Holdings in A. O. Smith Co. (NYSE:AOS)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of A. O. Smith Co. (NYSE:AOSGet Rating) by 93.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,357 shares of the industrial products company’s stock after selling 213,029 shares during the period. Allspring Global Investments Holdings LLC’s holdings in A. O. Smith were worth $697,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp boosted its position in A. O. Smith by 10.0% during the second quarter. State Street Corp now owns 8,579,406 shares of the industrial products company’s stock valued at $469,122,000 after buying an additional 782,112 shares during the period. Pictet Asset Management SA boosted its position in A. O. Smith by 3.2% during the second quarter. Pictet Asset Management SA now owns 4,332,544 shares of the industrial products company’s stock valued at $236,931,000 after buying an additional 136,285 shares during the period. Brown Brothers Harriman & Co. boosted its position in A. O. Smith by 1.3% during the second quarter. Brown Brothers Harriman & Co. now owns 3,426,157 shares of the industrial products company’s stock valued at $187,342,000 after buying an additional 45,229 shares during the period. Invesco Ltd. boosted its position in A. O. Smith by 8.2% during the first quarter. Invesco Ltd. now owns 3,000,385 shares of the industrial products company’s stock valued at $191,694,000 after buying an additional 227,825 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of A. O. Smith by 29.5% during the second quarter. ProShare Advisors LLC now owns 2,585,199 shares of the industrial products company’s stock valued at $141,356,000 after acquiring an additional 589,340 shares during the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on AOS. Loop Capital downgraded shares of A. O. Smith from a “buy” rating to a “hold” rating and lowered their price objective for the company from $67.00 to $65.00 in a research note on Tuesday, January 17th. DA Davidson lowered their price objective on shares of A. O. Smith from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. UBS Group downgraded shares of A. O. Smith from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $65.00 to $58.00 in a research note on Tuesday, January 10th. The Goldman Sachs Group upped their price objective on shares of A. O. Smith from $46.00 to $55.00 and gave the company a “sell” rating in a research note on Thursday, January 12th. Finally, Citigroup upped their price objective on shares of A. O. Smith from $50.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, December 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.75.

A. O. Smith Price Performance

AOS stock opened at $59.15 on Monday. A. O. Smith Co. has a 1 year low of $46.58 and a 1 year high of $78.96. The company has a market cap of $9.04 billion, a P/E ratio of 18.78, a PEG ratio of 2.06 and a beta of 1.24. The firm has a 50-day moving average of $59.39 and a 200 day moving average of $57.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.74 and a quick ratio of 1.16.

A. O. Smith (NYSE:AOSGet Rating) last announced its earnings results on Thursday, October 27th. The industrial products company reported $0.69 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.69. A. O. Smith had a net margin of 12.99% and a return on equity of 27.67%. The business had revenue of $874.20 million during the quarter, compared to the consensus estimate of $874.04 million. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts forecast that A. O. Smith Co. will post 3.08 EPS for the current year.

A. O. Smith Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, January 30th. A. O. Smith’s dividend payout ratio is 38.10%.

A. O. Smith Company Profile

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A. O. Smith Corporation manufactures and markets residential and commercial gas, heat pump and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; commercial boilers for hospitals, schools, hotels, and other large commercial buildings, as well as residential boilers for homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, on-the-go filtration bottles, point-of-use carbon, and reverse osmosis products for residences, restaurants, hotels, and offices.

See Also

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

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