Geode Capital Management LLC Has $321.35 Million Stock Position in A. O. Smith Co. (NYSE:AOS)

Geode Capital Management LLC lifted its stake in shares of A. O. Smith Co. (NYSE:AOS - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,586,905 shares of the industrial products company's stock after acquiring an additional 52,593 shares during the quarter. Geode Capital Management LLC owned about 2.47% of A. O. Smith worth $321,348,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new stake in A. O. Smith during the second quarter worth approximately $25,000. Isthmus Partners LLC bought a new stake in shares of A. O. Smith during the 2nd quarter worth $27,000. Quarry LP boosted its holdings in shares of A. O. Smith by 214.9% during the 2nd quarter. Quarry LP now owns 359 shares of the industrial products company's stock worth $29,000 after buying an additional 245 shares during the period. Waldron Private Wealth LLC acquired a new position in A. O. Smith in the 3rd quarter valued at $32,000. Finally, Wolff Wiese Magana LLC bought a new position in A. O. Smith in the 3rd quarter worth $37,000. Institutional investors and hedge funds own 76.10% of the company's stock.

A. O. Smith Stock Performance

AOS stock traded down $0.14 during midday trading on Friday, hitting $72.49. The stock had a trading volume of 981,477 shares, compared to its average volume of 969,351. A. O. Smith Co. has a 52 week low of $70.73 and a 52 week high of $92.44. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $76.19 and a 200 day simple moving average of $80.58. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.93 and a beta of 1.16.

A. O. Smith (NYSE:AOS - Get Free Report) last issued its 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 analyst estimates of $960.36 million. During the same period in the previous year, the business earned $0.90 EPS. As a group, equities research analysts anticipate that A. O. Smith Co. will post 3.78 earnings per share for the current year.

A. O. Smith Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.34 dividend. This is a positive change from A. O. Smith's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, October 31st. A. O. Smith's dividend payout ratio is currently 35.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. UBS Group upgraded shares of A. O. Smith from a "sell" rating to a "neutral" rating and upped their price target for the company from $75.00 to $80.00 in a report on Wednesday, October 23rd. Citigroup decreased their target price on A. O. Smith from $85.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. DA Davidson downgraded 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. Stifel Nicolaus reduced their price objective on A. O. Smith from $91.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Robert W. Baird dropped their target price on shares of A. O. Smith from $82.00 to $81.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average 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.