Precedent Wealth Partners LLC Has $1.68 Million Stock Holdings in A. O. Smith Corporation $AOS

Precedent Wealth Partners LLC grew its holdings in A. O. Smith Corporation (NYSE:AOS) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,592 shares of the industrial products company’s stock after buying an additional 1,527 shares during the quarter. Precedent Wealth Partners LLC’s holdings in A. O. Smith were worth $1,678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of A. O. Smith by 2.0% in the first quarter. Vanguard Group Inc. now owns 14,404,259 shares of the industrial products company’s stock valued at $941,462,000 after buying an additional 286,316 shares in the last quarter. Impax Asset Management Group plc increased its position in A. O. Smith by 67.3% in the first quarter. Impax Asset Management Group plc now owns 5,188,561 shares of the industrial products company’s stock worth $339,124,000 after purchasing an additional 2,086,433 shares during the period. Invesco Ltd. increased its position in A. O. Smith by 6.5% in the first quarter. Invesco Ltd. now owns 5,011,496 shares of the industrial products company’s stock worth $327,551,000 after purchasing an additional 307,201 shares during the period. Amundi increased its position in A. O. Smith by 9.4% in the first quarter. Amundi now owns 1,872,658 shares of the industrial products company’s stock worth $121,240,000 after purchasing an additional 160,522 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in A. O. Smith by 35.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,670,567 shares of the industrial products company’s stock worth $109,187,000 after purchasing an additional 438,291 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at A. O. Smith

In other news, Chairman Kevin J. Wheeler sold 22,200 shares of A. O. Smith stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $71.26, for a total transaction of $1,581,972.00. Following the transaction, the chairman owned 100,647 shares in the company, valued at $7,172,105.22. The trade was a 18.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is owned by company insiders.

A. O. Smith Price Performance

A. O. Smith stock opened at $73.38 on Friday. The firm has a market capitalization of $10.28 billion, a P/E ratio of 20.44, a PEG ratio of 1.60 and a beta of 1.30. A. O. Smith Corporation has a 1 year low of $58.83 and a 1 year high of $88.41. The business has a 50-day moving average of $72.14 and a 200-day moving average of $68.26. The company has a current ratio of 1.65, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15.

A. O. Smith (NYSE:AOS) last posted its earnings results on Thursday, July 24th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.10. A. O. Smith had a return on equity of 28.42% and a net margin of 13.68%.The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $997.89 million. During the same period in the previous year, the company earned $1.06 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. A. O. Smith has set its FY 2025 guidance at 3.700-3.900 EPS. On average, equities analysts anticipate that A. O. Smith Corporation will post 3.76 EPS for the current year.

A. O. Smith Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 31st. A. O. Smith’s payout ratio is 37.88%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AOS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of A. O. Smith in a research report on Saturday, September 27th. Wall Street Zen lowered A. O. Smith from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Robert W. Baird lifted their price objective on A. O. Smith from $76.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Stifel Nicolaus lifted their price objective on A. O. Smith from $78.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. initiated coverage on A. O. Smith in a research report on Tuesday, June 24th. They issued a “neutral” rating and a $70.00 price objective for the company. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $77.43.

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.