A. O. Smith Co. (NYSE:AOS – Free Report) – Analysts at DA Davidson lifted their FY2023 earnings estimates for shares of A. O. Smith in a research report issued on Friday, October 27th. DA Davidson analyst M. Summerville now expects that the industrial products company will post earnings of $3.75 per share for the year, up from their prior forecast of $3.60. The consensus estimate for A. O. Smith’s current full-year earnings is $3.78 per share. DA Davidson also issued estimates for A. O. Smith’s Q4 2023 earnings at $0.91 EPS and FY2024 earnings at $4.00 EPS.
A number of other equities research analysts have also commented on the stock. StockNews.com began coverage on shares of A. O. Smith in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $80.00 price objective on shares of A. O. Smith in a research note on Tuesday, September 12th. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of A. O. Smith in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.29.
A. O. Smith Trading Down 1.9 %
NYSE:AOS opened at $67.81 on Monday. The firm’s fifty day moving average is $68.54 and its 200-day moving average is $69.72. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.22 and a current ratio of 1.68. A. O. Smith has a 52 week low of $51.92 and a 52 week high of $76.94. The firm has a market cap of $10.20 billion, a P/E ratio of 33.91, a P/E/G ratio of 2.01 and a beta of 1.30.
A. O. Smith (NYSE:AOS – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.11. A. O. Smith had a net margin of 7.87% and a return on equity of 30.76%. The company had revenue of $937.50 million for the quarter, compared to analyst estimates of $910.81 million. During the same period in the prior year, the firm posted $0.69 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. State Street Corp raised its holdings in A. O. Smith by 2.6% during the third quarter. State Street Corp now owns 8,804,868 shares of the industrial products company’s stock worth $427,740,000 after buying an additional 225,462 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of A. O. Smith by 98,060.6% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 8,147,327 shares of the industrial products company’s stock worth $592,962,000 after acquiring an additional 8,139,027 shares in the last quarter. Invesco Ltd. grew its stake in shares of A. O. Smith by 8.2% in the 1st quarter. Invesco Ltd. now owns 3,000,385 shares of the industrial products company’s stock worth $191,694,000 after acquiring an additional 227,825 shares in the last quarter. Robeco Schweiz AG grew its stake in shares of A. O. Smith by 16.8% in the 1st quarter. Robeco Schweiz AG now owns 2,296,046 shares of the industrial products company’s stock worth $146,694,000 after acquiring an additional 329,539 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of A. O. Smith by 20.5% in the 1st quarter. Macquarie Group Ltd. now owns 2,120,008 shares of the industrial products company’s stock worth $146,599,000 after acquiring an additional 360,409 shares in the last quarter. Institutional investors and hedge funds own 74.48% of the company’s stock.
Insider Activity at A. O. Smith
In related news, Director Idelle K. Wolf sold 1,142 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $72.77, for a total transaction of $83,103.34. Following the transaction, the director now owns 50,222 shares in the company, valued at approximately $3,654,654.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other A. O. Smith news, Director Idelle K. Wolf sold 1,142 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $72.77, for a total transaction of $83,103.34. Following the transaction, the director now owns 50,222 shares in the company, valued at $3,654,654.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kevin J. Wheeler sold 12,917 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $69.09, for a total transaction of $892,435.53. Following the transaction, the chief executive officer now owns 71,463 shares in the company, valued at approximately $4,937,378.67. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.
A. O. Smith Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, October 30th. This is an increase from A. O. Smith’s previous quarterly dividend of $0.30. A. O. Smith’s payout ratio is presently 64.00%.
A. O. Smith Company Profile
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, 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.
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