PNC Financial Services Group Inc. Has $2.47 Million Stock Position in A. O. Smith Corporation $AOS

PNC Financial Services Group Inc. boosted its position in A. O. Smith Corporation (NYSE:AOS) by 40.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 37,509 shares of the industrial products company’s stock after acquiring an additional 10,727 shares during the period. PNC Financial Services Group Inc.’s holdings in A. O. Smith were worth $2,473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Florida Financial Advisors LLC acquired a new position in shares of A. O. Smith during the first quarter worth approximately $230,000. Dimensional Fund Advisors LP grew its position in A. O. Smith by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,959,696 shares of the industrial products company’s stock valued at $129,202,000 after purchasing an additional 64,873 shares during the period. Parallel Advisors LLC grew its position in A. O. Smith by 24.4% in the 1st quarter. Parallel Advisors LLC now owns 2,172 shares of the industrial products company’s stock valued at $143,000 after purchasing an additional 426 shares during the period. Regents Gate Capital LLP increased its stake in A. O. Smith by 33.6% during the 1st quarter. Regents Gate Capital LLP now owns 263,951 shares of the industrial products company’s stock valued at $17,405,000 after purchasing an additional 66,387 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in A. O. Smith by 5.8% during the 1st quarter. California Public Employees Retirement System now owns 236,011 shares of the industrial products company’s stock valued at $15,563,000 after purchasing an additional 12,888 shares in the last quarter. Institutional investors own 76.10% of the company’s stock.

A. O. Smith Trading Down 3.4%

NYSE:AOS opened at $61.85 on Thursday. A. O. Smith Corporation has a 52 week low of $54.16 and a 52 week high of $81.86. The firm has a 50-day moving average price of $59.45 and a two-hundred day moving average price of $65.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 1.56. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16.

A. O. Smith (NYSE:AOS) last announced its earnings results on Thursday, April 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.09). The business had revenue of $945.60 million for the quarter, compared to analysts’ expectations of $974.06 million. A. O. Smith had a net margin of 13.84% and a return on equity of 28.42%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. On average, equities analysts expect that A. O. Smith Corporation will post 3.74 earnings per share for the current fiscal year.

A. O. Smith Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be paid a $0.36 dividend. The ex-dividend date is Friday, July 31st. This represents a $1.44 annualized dividend and a dividend yield of 2.3%. A. O. Smith’s payout ratio is presently 38.30%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AOS. Citigroup dropped their price objective on shares of A. O. Smith from $74.00 to $65.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Weiss Ratings lowered shares of A. O. Smith from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. Zacks Research downgraded A. O. Smith from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Oppenheimer set a $75.00 price objective on A. O. Smith and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Finally, DA Davidson set a $67.00 target price on A. O. Smith and gave the company a “neutral” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $68.62.

A. O. Smith Profile

A. O. Smith Corporation, based in Milwaukee, Wisconsin, is a leading manufacturer of water heating and water treatment products for residential and commercial applications. Since its founding in 1874, the company has built a reputation for producing reliable, energy-efficient water heaters, boilers and pressure vessels. Its product portfolio encompasses gas, electric, condensing and tankless water heaters, as well as specialty boilers designed to meet a variety of building and industrial needs.

The company operates through two primary segments: North America and Asia.