Deutsche Bank AG reduced its stake in A. O. Smith Co. (NYSE:AOS – Get Rating) by 11.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 571,256 shares of the industrial products company’s stock after selling 75,482 shares during the period. Deutsche Bank AG’s holdings in A. O. Smith were worth $31,236,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Heritage Financial Services LLC purchased a new stake in shares of A. O. Smith in the second quarter worth about $26,000. Zullo Investment Group Inc. increased its position in shares of A. O. Smith by 450.9% in the first quarter. Zullo Investment Group Inc. now owns 595 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 487 shares during the last quarter. SCHRODERS IS Ltd bought a new position in shares of A. O. Smith in the second quarter worth approximately $65,000. Archer Investment Corp bought a new position in shares of A. O. Smith in the second quarter worth approximately $71,000. Finally, Eagle Bay Advisors LLC increased its position in shares of A. O. Smith by 24.8% in the first quarter. Eagle Bay Advisors LLC now owns 1,425 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 283 shares during the last quarter. 76.34% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AOS has been the topic of several research analyst reports. Stifel Nicolaus decreased their price objective on shares of A. O. Smith from $63.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 11th. StockNews.com cut shares of A. O. Smith from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. DA Davidson reduced their price target on shares of A. O. Smith from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, October 19th. Finally, Citigroup reduced their price target on shares of A. O. Smith from $65.00 to $54.00 in a research report on Monday, October 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.67.
A. O. Smith Stock Performance
A. O. Smith (NYSE:AOS – Get Rating) last released 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 the consensus estimate of $874.04 million. A. O. Smith had a return on equity of 27.67% and a net margin of 12.99%. A. O. Smith’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. As a group, research analysts expect that A. O. Smith Co. will post 3.09 earnings per share for the current year.
A. O. Smith Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, October 31st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, October 28th. This is an increase from A. O. Smith’s previous quarterly dividend of $0.28. A. O. Smith’s dividend payout ratio is 38.10%.
A. O. Smith 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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