PNC Financial Services Group Inc. decreased its position in A. O. Smith Corp (NYSE:AOS) by 20.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,309 shares of the industrial products company’s stock after selling 8,952 shares during the quarter. PNC Financial Services Group Inc.’s holdings in A. O. Smith were worth $2,088,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of AOS. Robeco Institutional Asset Management B.V. bought a new stake in shares of A. O. Smith in the 1st quarter worth about $150,000. Csenge Advisory Group bought a new stake in shares of A. O. Smith in the 1st quarter worth about $201,000. IBM Retirement Fund bought a new stake in shares of A. O. Smith in the 1st quarter worth about $201,000. Creative Planning bought a new stake in shares of A. O. Smith in the 2nd quarter worth about $201,000. Finally, TLP Group LLC bought a new stake in shares of A. O. Smith in the 1st quarter worth about $204,000. 75.02% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. SunTrust Banks reiterated a “buy” rating and set a $71.00 price target on shares of A. O. Smith in a research report on Thursday, July 26th. BMO Capital Markets reiterated a “buy” rating and set a $73.00 price target on shares of A. O. Smith in a research report on Thursday, July 26th. Oppenheimer reiterated a “hold” rating on shares of A. O. Smith in a research report on Wednesday, July 25th. Finally, Boenning Scattergood reiterated a “buy” rating and set a $75.00 price target on shares of A. O. Smith in a research report on Wednesday, July 25th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $70.71.
A. O. Smith (NYSE:AOS) last issued its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. The business had revenue of $833.30 million for the quarter, compared to the consensus estimate of $811.72 million. A. O. Smith had a net margin of 10.50% and a return on equity of 24.67%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. sell-side analysts forecast that A. O. Smith Corp will post 2.61 earnings per share for the current fiscal year.
In related news, Director Paul W. Jones sold 4,591 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $58.92, for a total transaction of $270,501.72. Following the transaction, the director now owns 214,558 shares in the company, valued at approximately $12,641,757.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.28% of the stock is 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, and water treatment products in North America, China, Europe, and India. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for use in space heating applications for hospitals, schools, hotels, and other large commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtrations products for residences, restaurants, hotels, and offices.
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