Bridgewater Associates LP grew its stake in shares of A. O. Smith Co. (NYSE:AOS – Get Rating) by 15.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,558 shares of the industrial products company’s stock after buying an additional 15,332 shares during the period. Bridgewater Associates LP owned 0.07% of A. O. Smith worth $6,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Heritage Financial Services LLC bought a new stake in shares of A. O. Smith during the second quarter valued at approximately $26,000. CFS Investment Advisory Services LLC raised its position in shares of A. O. Smith by 6,265.5% during the first quarter. CFS Investment Advisory Services LLC now owns 1,716,788 shares of the industrial products company’s stock valued at $27,000 after buying an additional 1,689,818 shares during the last quarter. Zullo Investment Group Inc. raised its position in shares of A. O. Smith by 450.9% during the first quarter. Zullo Investment Group Inc. now owns 595 shares of the industrial products company’s stock valued at $38,000 after buying an additional 487 shares during the last quarter. SCHRODERS IS Ltd bought a new stake in shares of A. O. Smith during the second quarter valued at approximately $65,000. Finally, Archer Investment Corp bought a new stake in shares of A. O. Smith during the second quarter valued at approximately $71,000. Institutional investors own 76.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on AOS shares. Stifel Nicolaus cut their target price on shares of A. O. Smith from $63.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 11th. Citigroup cut their target price on shares of A. O. Smith from $65.00 to $54.00 in a report on Monday, October 10th. StockNews.com lowered shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Finally, DA Davidson cut their target price on shares of A. O. Smith from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, October 19th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, A. O. Smith has a consensus rating of “Hold” and an average target price of $61.67.
A. O. Smith Stock Down 0.6 %
A. O. Smith (NYSE:AOS – Get Rating) last posted its quarterly earnings data on Thursday, October 27th. The industrial products company reported $0.69 EPS for the quarter, hitting the consensus estimate of $0.69. The company had revenue of $874.20 million during the quarter, compared to analyst estimates of $874.04 million. A. O. Smith had a net margin of 12.99% and a return on equity of 27.67%. A. O. Smith’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 earnings per share. On average, analysts predict that A. O. Smith Co. will post 3.09 earnings per share for the current year.
A. O. Smith Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Monday, October 31st were issued a $0.30 dividend. This is an increase from A. O. Smith’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Friday, October 28th. A. O. Smith’s payout ratio is presently 38.10%.
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 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.
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