Truist Financial Corp Lowers Stock Position in A. O. Smith Corporation $AOS

Truist Financial Corp decreased its holdings in shares of A. O. Smith Corporation (NYSE:AOS) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,658 shares of the industrial products company’s stock after selling 2,604 shares during the period. Truist Financial Corp owned approximately 0.07% of A. O. Smith worth $6,600,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vermillion & White Wealth Management Group LLC acquired a new position in A. O. Smith in the 1st quarter valued at $26,000. TD Private Client Wealth LLC boosted its position in shares of A. O. Smith by 143.7% during the 2nd quarter. TD Private Client Wealth LLC now owns 446 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 263 shares in the last quarter. National Pension Service grew its position in A. O. Smith by 74.8% during the first quarter. National Pension Service now owns 458 shares of the industrial products company’s stock worth $30,000 after buying an additional 196 shares during the period. TCTC Holdings LLC grew its holdings in shares of A. O. Smith by 69.9% in the 1st quarter. TCTC Holdings LLC now owns 491 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 202 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in A. O. Smith by 161.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 539 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 333 shares during the last quarter. Institutional investors and hedge funds own 76.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AOS. Robert W. Baird raised their price objective on shares of A. O. Smith from $76.00 to $82.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Wall Street Zen lowered shares of A. O. Smith from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. UBS Group reissued a “neutral” rating and set a $76.00 price target (up previously from $74.00) on shares of A. O. Smith in a research note on Monday, July 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of A. O. Smith in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of A. O. Smith in a research note on Tuesday, June 24th. They set a “neutral” rating and a $70.00 price objective for the company. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.43.

A. O. Smith Stock Performance

AOS stock opened at $72.44 on Tuesday. The firm has a market cap of $10.15 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.60 and a beta of 1.30. A. O. Smith Corporation has a 12-month low of $58.83 and a 12-month high of $88.41. The stock’s 50 day simple moving average is $72.17 and its 200 day simple moving average is $68.32. The company has a current ratio of 1.65, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15.

A. O. Smith (NYSE:AOS) last released its quarterly earnings data on Thursday, July 24th. The industrial products company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.10. A. O. Smith had a net margin of 13.68% and a return on equity of 28.42%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $997.89 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. A. O. Smith’s quarterly revenue was down 1.3% on a year-over-year basis. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. As a group, equities research analysts predict that A. O. Smith Corporation will post 3.76 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Kevin J. Wheeler sold 22,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $71.26, for a total value of $1,581,972.00. Following the sale, the chairman directly owned 100,647 shares in the company, valued at $7,172,105.22. This trade represents a 18.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

A. O. Smith Company Profile

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.