Franklin Resources Inc. Sells 40,150 Shares of A. O. Smith Co. (NYSE:AOS)

Franklin Resources Inc. decreased its holdings in shares of A. O. Smith Co. (NYSE:AOS - Free Report) by 48.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,204 shares of the industrial products company's stock after selling 40,150 shares during the quarter. Franklin Resources Inc.'s holdings in A. O. Smith were worth $3,570,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in A. O. Smith by 7.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,007 shares of the industrial products company's stock worth $164,000 after buying an additional 134 shares in the last quarter. Huntington National Bank lifted its holdings in shares of A. O. Smith by 19.8% during the 3rd quarter. Huntington National Bank now owns 812 shares of the industrial products company's stock worth $73,000 after acquiring an additional 134 shares during the last quarter. UMB Bank n.a. grew its position in A. O. Smith by 12.5% in the third quarter. UMB Bank n.a. now owns 1,227 shares of the industrial products company's stock worth $110,000 after acquiring an additional 136 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in A. O. Smith by 5.0% in the third quarter. Gateway Investment Advisers LLC now owns 2,989 shares of the industrial products company's stock valued at $269,000 after acquiring an additional 142 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its position in A. O. Smith by 5.1% during the third quarter. OneDigital Investment Advisors LLC now owns 3,240 shares of the industrial products company's stock valued at $291,000 after purchasing an additional 156 shares in the last quarter. 76.10% of the stock is currently owned by institutional investors.

A. O. Smith Trading Up 0.5 %

NYSE:AOS traded up $0.33 during mid-day trading on Wednesday, reaching $68.89. 381,784 shares of the company's stock traded hands, compared to its average volume of 973,624. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.92 and a beta of 1.16. A. O. Smith Co. has a 12-month low of $68.07 and a 12-month high of $92.44. The company has a 50 day moving average price of $73.83 and a 200-day moving average price of $79.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.02.

A. O. Smith (NYSE:AOS - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.82 earnings per share for the quarter, meeting the consensus estimate of $0.82. A. O. Smith had a net margin of 14.41% and a return on equity of 30.09%. The business had revenue of $957.80 million for the quarter, compared to analysts' expectations of $960.36 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. On average, sell-side analysts predict that A. O. Smith Co. will post 3.77 earnings per share for the current year.

A. O. Smith Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.34 per share. This is an increase from A. O. Smith's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.97%. A. O. Smith's dividend payout ratio is 35.79%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup cut their price objective on A. O. Smith from $85.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, December 9th. DA Davidson cut shares of A. O. Smith from a "buy" rating to a "neutral" rating and set a $80.00 price target on the stock. in a research report on Wednesday, October 23rd. UBS Group raised shares of A. O. Smith from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $75.00 to $80.00 in a research note on Wednesday, October 23rd. Robert W. Baird cut their price objective on shares of A. O. Smith from $82.00 to $81.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus decreased their target price on shares of A. O. Smith from $91.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, A. O. Smith currently has a consensus rating of "Hold" and a consensus target price of $83.17.

About A. O. Smith

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.