AQR Capital Management LLC decreased its position in shares of A. O. Smith Corp (NYSE:AOS) by 34.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,974 shares of the industrial products company’s stock after selling 49,748 shares during the period. AQR Capital Management LLC owned approximately 0.06% of A. O. Smith worth $3,591,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. GQ Asset Management LLC bought a new position in A. O. Smith during the first quarter valued at $32,000. CSat Investment Advisory L.P. increased its position in A. O. Smith by 25.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,577 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 319 shares during the last quarter. Quantbot Technologies LP bought a new position in A. O. Smith during the fourth quarter valued at $79,000. Fifth Third Bancorp grew its holdings in shares of A. O. Smith by 235.3% in the first quarter. Fifth Third Bancorp now owns 2,327 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of A. O. Smith by 44.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,584 shares of the industrial products company’s stock worth $98,000 after purchasing an additional 795 shares during the last quarter. Institutional investors and hedge funds own 80.21% of the company’s stock.
In related news, Director Ajita G. Rajendra sold 46,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $49.54, for a total value of $2,278,840.00. Following the transaction, the director now owns 135,147 shares in the company, valued at approximately $6,695,182.38. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.29% of the company’s stock.
A. O. Smith (NYSE:AOS) last announced its quarterly earnings data on Tuesday, May 5th. The industrial products company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). The company had revenue of $636.90 million during the quarter, compared to analysts’ expectations of $655.91 million. A. O. Smith had a net margin of 11.54% and a return on equity of 19.95%. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, equities analysts predict that A. O. Smith Corp will post 1.79 earnings per share for the current fiscal year.
A number of research analysts have recently commented on AOS shares. UBS Group started coverage on shares of A. O. Smith in a report on Friday, May 29th. They issued a “buy” rating and a $54.00 price target on the stock. Stifel Nicolaus started coverage on shares of A. O. Smith in a report on Thursday, April 2nd. They issued a “buy” rating and a $45.00 price target on the stock. Cfra cut their price target on shares of A. O. Smith from $39.00 to $32.00 and set a “strong sell” rating on the stock in a report on Wednesday, May 6th. Robert W. Baird upped their price objective on shares of A. O. Smith from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th. Finally, Zacks Investment Research raised shares of A. O. Smith from a “sell” rating to a “hold” rating and set a $55.00 price objective for the company in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.50.
About A. O. Smith
A. O. Smith Corporation manufactures and markets residential and commercial gas 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; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other 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 filtration products for residences, restaurants, hotels, and offices.
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