New York Life Investment Management LLC Sells 13,039 Shares of A. O. Smith Corporation $AOS

New York Life Investment Management LLC cut its holdings in A. O. Smith Corporation (NYSE:AOS) by 45.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,601 shares of the industrial products company’s stock after selling 13,039 shares during the period. New York Life Investment Management LLC’s holdings in A. O. Smith were worth $1,023,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AOS. Teacher Retirement System of Texas boosted its stake in shares of A. O. Smith by 64.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 28,832 shares of the industrial products company’s stock worth $1,891,000 after acquiring an additional 11,294 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in A. O. Smith in the 2nd quarter worth approximately $9,411,000. Oppenheimer Asset Management Inc. bought a new stake in A. O. Smith during the second quarter worth approximately $1,045,000. Kornitzer Capital Management Inc. KS grew its holdings in A. O. Smith by 1.7% during the second quarter. Kornitzer Capital Management Inc. KS now owns 37,500 shares of the industrial products company’s stock valued at $2,459,000 after purchasing an additional 618 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in A. O. Smith by 1,118.7% during the second quarter. AlphaQuest LLC now owns 38,583 shares of the industrial products company’s stock valued at $2,530,000 after purchasing an additional 35,417 shares during the last quarter. 76.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AOS. Robert W. Baird set a $76.00 target price on shares of A. O. Smith in a research note on Wednesday. Stifel Nicolaus set a $80.00 price objective on A. O. Smith and gave the stock a “buy” rating in a research note on Wednesday. Citigroup cut their price objective on A. O. Smith from $77.00 to $72.00 and set a “neutral” rating for the company in a research report on Wednesday. Wall Street Zen raised A. O. Smith from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, UBS Group reiterated a “neutral” rating and set a $76.00 price target (up from $74.00) on shares of A. O. Smith in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, A. O. Smith presently has an average rating of “Hold” and a consensus price target of $77.00.

A. O. Smith Trading Down 1.0%

A. O. Smith stock opened at $66.02 on Friday. The business has a 50 day moving average price of $71.10 and a two-hundred day moving average price of $68.93. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 0.09. A. O. Smith Corporation has a 12 month low of $58.83 and a 12 month high of $77.92. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.43 and a beta of 1.30.

A. O. Smith (NYSE:AOS) last released its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The business had revenue of $942.50 million for the quarter, compared to analysts’ expectations of $946.33 million. A. O. Smith had a return on equity of 29.34% and a net margin of 13.85%.A. O. Smith’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.82 earnings per share. A. O. Smith has set its FY 2025 guidance at 3.700-3.850 EPS. As a group, equities analysts forecast that A. O. Smith Corporation will post 3.76 EPS for the current year.

A. O. Smith Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a $0.36 dividend. The ex-dividend date is Friday, October 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from A. O. Smith’s previous quarterly dividend of $0.34. A. O. Smith’s dividend payout ratio is currently 38.81%.

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.