Spectrum Wealth Counsel LLC Sells 2,384 Shares of A. O. Smith Co. (NYSE:AOS)

Spectrum Wealth Counsel LLC lowered its stake in shares of A. O. Smith Co. (NYSE:AOS) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,790 shares of the industrial products company’s stock after selling 2,384 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in A. O. Smith were worth $2,600,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC increased its holdings in shares of A. O. Smith by 4.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,991,003 shares of the industrial products company’s stock worth $164,138,000 after purchasing an additional 75,898 shares during the period. Earnest Partners LLC increased its stake in A. O. Smith by 5.7% during the first quarter. Earnest Partners LLC now owns 1,973,942 shares of the industrial products company’s stock valued at $176,589,000 after acquiring an additional 106,329 shares during the period. Sei Investments Co. raised its holdings in A. O. Smith by 5.5% in the 1st quarter. Sei Investments Co. now owns 1,326,586 shares of the industrial products company’s stock valued at $118,677,000 after acquiring an additional 68,787 shares in the last quarter. Norges Bank bought a new stake in shares of A. O. Smith in the 4th quarter worth approximately $108,176,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of A. O. Smith by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,966 shares of the industrial products company’s stock worth $99,996,000 after purchasing an additional 15,698 shares in the last quarter. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Samuel M. Carver sold 14,705 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $81.00, for a total transaction of $1,191,105.00. Following the transaction, the senior vice president now owns 2,399 shares in the company, valued at approximately $194,319. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group upped their target price on A. O. Smith from $73.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, July 8th. Robert W. Baird reduced their price objective on shares of A. O. Smith from $92.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded shares of A. O. Smith from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus raised shares of A. O. Smith from a “hold” rating to a “buy” rating and increased their price target for the stock from $97.00 to $98.00 in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, A. O. Smith has a consensus rating of “Hold” and a consensus target price of $89.67.

A. O. Smith Trading Up 0.7 %

Shares of AOS stock opened at $79.97 on Friday. The company has a market capitalization of $11.73 billion, a P/E ratio of 20.72, a P/E/G ratio of 2.14 and a beta of 1.15. A. O. Smith Co. has a 12-month low of $64.14 and a 12-month high of $92.44. The company has a quick ratio of 1.07, a current ratio of 1.70 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $82.36 and a 200 day moving average price of $84.00.

A. O. Smith (NYSE:AOS) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. Research analysts forecast that A. O. Smith Co. will post 4.07 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Wednesday, July 31st. A. O. Smith’s payout ratio is presently 33.16%.

A. O. Smith 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.