Toronto Dominion Bank Trims Stock Holdings in A. O. Smith Co. (NYSE:AOS)

Toronto Dominion Bank trimmed its holdings in A. O. Smith Co. (NYSE:AOS) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,940 shares of the industrial products company’s stock after selling 10,374 shares during the period. Toronto Dominion Bank’s holdings in A. O. Smith were worth $4,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc raised its holdings in A. O. Smith by 39.7% in the fourth quarter. TD Asset Management Inc now owns 79,075 shares of the industrial products company’s stock valued at $6,519,000 after acquiring an additional 22,483 shares in the last quarter. J. W. Coons Advisors LLC acquired a new stake in shares of A. O. Smith in the 4th quarter valued at about $218,000. Treasurer of the State of North Carolina lifted its position in shares of A. O. Smith by 2.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 55,412 shares of the industrial products company’s stock worth $4,568,000 after purchasing an additional 1,512 shares during the last quarter. TFO Wealth Partners LLC grew its stake in A. O. Smith by 31,737.5% in the fourth quarter. TFO Wealth Partners LLC now owns 2,547 shares of the industrial products company’s stock worth $210,000 after purchasing an additional 2,539 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in A. O. Smith by 2.4% in the fourth quarter. Scotia Capital Inc. now owns 7,726 shares of the industrial products company’s stock valued at $637,000 after buying an additional 180 shares during the last quarter. 76.10% of the stock is currently owned by hedge funds and other institutional investors.

A. O. Smith Stock Up 1.4 %

A. O. Smith stock opened at $90.59 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.70. A. O. Smith Co. has a one year low of $64.86 and a one year high of $92.44. The company has a 50-day simple moving average of $82.04 and a 200-day simple moving average of $84.00. The firm has a market capitalization of $13.21 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.34 and a beta of 1.15.

A. O. Smith (NYSE:AOS) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. A. O. Smith had a net margin of 14.67% and a return on equity of 31.04%. A. O. Smith’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. As a group, equities analysts expect that A. O. Smith Co. will post 4.07 earnings per share for the current year.

A. O. Smith Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.32 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.28 annualized dividend and a dividend yield of 1.41%. A. O. Smith’s payout ratio is 33.16%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AOS shares. StockNews.com upgraded A. O. Smith from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Robert W. Baird lowered their target price on shares of A. O. Smith from $92.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Stifel Nicolaus raised shares of A. O. Smith from a “hold” rating to a “buy” rating and increased their target price for the stock from $97.00 to $98.00 in a report on Wednesday, July 24th. Finally, UBS Group lifted their price target on shares of A. O. Smith from $73.00 to $75.00 and gave the company a “sell” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, A. O. Smith has an average rating of “Hold” and a consensus price target of $89.67.

Insider Activity

In related news, SVP Samuel M. Carver sold 14,705 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $81.00, for a total value of $1,191,105.00. Following the completion of the transaction, the senior vice president now owns 2,399 shares in the company, valued at approximately $194,319. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.

A. O. Smith Company 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.