WealthPLAN Partners LLC Sells 11,589 Shares of A. O. Smith Co. (NYSE:AOS)

WealthPLAN Partners LLC lessened its holdings in A. O. Smith Co. (NYSE:AOS - Free Report) by 33.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,936 shares of the industrial products company's stock after selling 11,589 shares during the quarter. WealthPLAN Partners LLC's holdings in A. O. Smith were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Colonial River Investments LLC acquired a new position in A. O. Smith in the 3rd quarter valued at about $209,000. Axxcess Wealth Management LLC purchased a new stake in A. O. Smith in the 3rd quarter worth approximately $209,000. Assetmark Inc. grew its stake in A. O. Smith by 9.4% in the 3rd quarter. Assetmark Inc. now owns 25,991 shares of the industrial products company's stock worth $2,335,000 after acquiring an additional 2,236 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of A. O. Smith during the 3rd quarter worth $240,000. Finally, Kornitzer Capital Management Inc. KS increased its stake in A. O. Smith by 8.7% in the third quarter. Kornitzer Capital Management Inc. KS now owns 34,722 shares of the industrial products company's stock valued at $3,119,000 after purchasing an additional 2,776 shares during the last quarter. 76.10% of the stock is owned by hedge funds and other institutional investors.

A. O. Smith Stock Down 1.7 %

NYSE:AOS traded down $1.29 during trading hours on Tuesday, hitting $73.81. 244,249 shares of the stock traded hands, compared to its average volume of 967,139. The firm has a 50 day moving average price of $81.08 and a 200 day moving average price of $82.53. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.98 and a beta of 1.17. A. O. Smith Co. has a fifty-two week low of $72.41 and a fifty-two 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.

A. O. Smith (NYSE:AOS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $0.82 EPS for the quarter, meeting analysts' consensus estimates of $0.82. A. O. Smith had a net margin of 14.41% and a return on equity of 30.09%. The firm had revenue of $957.80 million for the quarter, compared to the consensus estimate of $960.36 million. During the same period in the previous year, the firm posted $0.90 earnings per share. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, October 31st. This is a positive change from A. O. Smith's previous quarterly dividend of $0.32. A. O. Smith's payout ratio is presently 35.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. DA Davidson downgraded shares of A. O. Smith from a "buy" rating to a "neutral" rating and set a $80.00 price objective for the company. in a research note on Wednesday, October 23rd. UBS Group raised shares of A. O. Smith from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $75.00 to $80.00 in a research note on Wednesday, October 23rd. Stifel Nicolaus reduced their target price on A. O. Smith from $92.00 to $91.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird cut their price objective on A. O. Smith from $82.00 to $81.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded A. O. Smith from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, A. O. Smith presently has a consensus rating of "Hold" and a consensus price target of $86.71.

A. O. Smith 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.