Pictet & Cie Europe SA Has $1.09 Million Position in A. O. Smith Corp (AOS)

Pictet & Cie Europe SA lessened its position in shares of A. O. Smith Corp (NYSE:AOS) by 21.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,400 shares of the industrial products company’s stock after selling 5,100 shares during the period. Pictet & Cie Europe SA’s holdings in A. O. Smith were worth $1,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AOS. Select Equity Group L.P. grew its holdings in A. O. Smith by 25.2% in the first quarter. Select Equity Group L.P. now owns 4,236,042 shares of the industrial products company’s stock worth $269,370,000 after purchasing an additional 853,808 shares during the period. JPMorgan Chase & Co. grew its holdings in A. O. Smith by 100.7% in the first quarter. JPMorgan Chase & Co. now owns 571,497 shares of the industrial products company’s stock worth $36,342,000 after purchasing an additional 286,706 shares during the period. Bank of Montreal Can grew its holdings in A. O. Smith by 223.6% in the second quarter. Bank of Montreal Can now owns 394,021 shares of the industrial products company’s stock worth $23,307,000 after purchasing an additional 272,243 shares during the period. BlackRock Inc. grew its holdings in A. O. Smith by 2.0% in the first quarter. BlackRock Inc. now owns 10,100,010 shares of the industrial products company’s stock worth $642,259,000 after purchasing an additional 196,941 shares during the period. Finally, First Trust Advisors LP grew its holdings in A. O. Smith by 45.1% in the second quarter. First Trust Advisors LP now owns 528,867 shares of the industrial products company’s stock worth $31,282,000 after purchasing an additional 164,325 shares during the period. 75.06% of the stock is owned by institutional investors and hedge funds.

In other news, Chairman Ajita G. Rajendra sold 2,600 shares of A. O. Smith stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $64.60, for a total transaction of $167,960.00. Following the completion of the transaction, the chairman now directly owns 301,018 shares in the company, valued at $19,445,762.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Heideman sold 3,669 shares of A. O. Smith stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $63.76, for a total transaction of $233,935.44. Following the transaction, the vice president now owns 32,241 shares of the company’s stock, valued at $2,055,686.16. The disclosure for this sale can be found here. Insiders have sold 26,072 shares of company stock valued at $1,643,690 over the last quarter. Corporate insiders own 1.28% of the company’s stock.

A number of equities research analysts have commented on the stock. SunTrust Banks restated a “buy” rating and issued a $71.00 price target on shares of A. O. Smith in a report on Thursday, July 26th. Zacks Investment Research cut shares of A. O. Smith from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. ValuEngine upgraded shares of A. O. Smith from a “hold” rating to a “buy” rating in a report on Friday, May 11th. Boenning Scattergood reiterated a “buy” rating and set a $75.00 price objective on shares of A. O. Smith in a report on Wednesday, July 25th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $73.00 price objective on shares of A. O. Smith in a report on Thursday, July 26th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $70.71.

Shares of NYSE AOS opened at $58.39 on Monday. The stock has a market cap of $9.96 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.42. A. O. Smith Corp has a 1 year low of $53.61 and a 1 year high of $68.39. The company has a quick ratio of 1.77, a current ratio of 2.15 and a debt-to-equity ratio of 0.14.

A. O. Smith (NYSE:AOS) last issued its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The firm had revenue of $833.30 million during the quarter, compared to analysts’ expectations of $811.72 million. A. O. Smith had a net margin of 10.50% and a return on equity of 24.67%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. research analysts anticipate that A. O. Smith Corp will post 2.61 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Monday, July 30th. A. O. Smith’s dividend payout ratio is currently 33.18%.

A. O. Smith 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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Institutional Ownership by Quarter for A. O. Smith (NYSE:AOS)

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