Citigroup Inc. Has $16.30 Million Stock Holdings in A. O. Smith Co. (NYSE:AOS)

Citigroup Inc. lowered its holdings in A. O. Smith Co. (NYSE:AOS) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,437 shares of the industrial products company’s stock after selling 19,163 shares during the quarter. Citigroup Inc.’s holdings in A. O. Smith were worth $16,298,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. King Luther Capital Management Corp grew its stake in shares of A. O. Smith by 10.0% in the 3rd quarter. King Luther Capital Management Corp now owns 70,747 shares of the industrial products company’s stock valued at $6,355,000 after purchasing an additional 6,430 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of A. O. Smith during the 3rd quarter worth approximately $1,684,000. Nixon Peabody Trust Co. bought a new position in shares of A. O. Smith during the 3rd quarter worth approximately $262,000. Quest Partners LLC bought a new stake in A. O. Smith in the third quarter valued at $268,000. Finally, S&CO Inc. bought a new stake in A. O. Smith in the third quarter valued at $215,000. Institutional investors and hedge funds own 76.10% of the company’s stock.

A. O. Smith Price Performance

A. O. Smith stock opened at $74.09 on Thursday. The business’s 50-day simple moving average is $79.64 and its 200 day simple moving average is $81.63. The company has a quick ratio of 1.02, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 2.00 and a beta of 1.17. A. O. Smith Co. has a 12-month low of $70.73 and a 12-month high of $92.44.

A. O. Smith (NYSE:AOS) last issued its earnings results on Tuesday, October 22nd. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.82. The company had revenue of $957.80 million for the quarter, compared to analyst estimates of $960.36 million. A. O. Smith had a net margin of 14.41% and a return on equity of 30.09%. During the same quarter last year, the firm earned $0.90 EPS. As a group, 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 declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.34 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from A. O. Smith’s previous quarterly dividend of $0.32. A. O. Smith’s dividend payout ratio is 35.79%.

Analysts Set New Price Targets

A number of research analysts have issued reports on AOS shares. Robert W. Baird cut their price objective on A. O. Smith from $82.00 to $81.00 and set a “neutral” rating for the company in a 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 company from $75.00 to $80.00 in a report on Wednesday, October 23rd. Stifel Nicolaus decreased their price objective on shares of A. O. Smith from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. DA Davidson downgraded A. O. Smith from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of A. O. Smith from a “hold” rating to a “buy” rating in a research report on Wednesday, November 20th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.