Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. A. O. Smith Corporation shares valued at $119,140 were sold by Carver Samuel M. on May 03. At $59.57 per share, Carver Samuel M. sold 2,000 shares. The insider’s holdings dropped to 5,144 shares worth approximately $0.26 million following the completion of this transaction.
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Also, Larsen Michael M purchased 3,925 shares, netting a total of over 274,240 in proceeds. Following the buying of shares at $69.87 each, the insider now holds 7,425 shares.
Before that, Rajendra Ajita G had sold 4,209 shares from its account. In a trade valued at $350,574, the Director traded A. O. Smith Corporation shares for $83.29 each. Upon closing the transaction, the insider’s holdings decreased to 4,209 shares, worth approximately $1.21 million.
As published in a research note from Robert W. Baird on July 14, 2022, A. O. Smith Corporation [AOS] has been rated down from an Outperform to a Neutral and the price target has been revised to $60. This represents a 14.9% premium over Wednesday’s closing price. Analysts at Longbow upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early July. As of November 23, 2021, Loop Capital has initiated its “Buy” rating for AOS. Earlier on October 05, 2021, Robert W. Baird upgraded its rating. Their new recommendation was “an Outperform” for AOS stock which previously was a “a Neutral”.
Analyzing AOS’s Price Performance
On Wednesday, A. O. Smith Corporation [NYSE: AOS] plunged -0.31% to $51.06. The stock’s lowest price that day was $51.04, but it reached a high of $52.52 in the same session. During the last five days, there has been a drop of approximately -2.31%. Over the course of the year, A. O. Smith Corporation shares have dropped approximately -40.52%. Shares of the company reached a 52-week high of $86.10 on 01/04/22 and a 52-week low of $50.80 on 09/16/22. A 50-day SMA is recorded $58.56, while a 200-day SMA reached $65.70. Nevertheless, trading volume fell to 1.46 million shares from 1.36 million shares the previous day.
Support And Resistance Levels for A. O. Smith Corporation (AOS)
According to the 24-hour chart, there is a support level at 50.56, which, if violated, would cause prices to drop to 50.06. In the upper region, resistance lies at 52.04. The next price resistance is at 53.02. RSI (Relative Strength Index) is 27.48 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.74, which suggests the price will decrease in the coming days. Percent R is at 96.34%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is A. O. Smith Corporation subject to short interest?
Stocks of A. O. Smith Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.44 million shares to 5.76 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.32 million shares. A jump of 7.64% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.77 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.77.
Which companies own the most shares of A. O. Smith Corporation (AOS)?
According to The Vanguard Group, Inc. filings, the company currently owns 14,356,760 shares, which is about 11.18% of the total AOS shares outstanding. The investor’s shares have plunged by -74,748 from its previous 13-F filing of 14431508.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $484,307,469. BlackRock Fund Advisors reduced a -0.36% interest valued at $385.03 million while Pictet Asset Management SA purchased a 136,285 stake. A total of 656,388 shares of A. O. Smith Corporation were bought by Impax Asset Management Ltd. during the quarter, and 45,229 were bought by Brown Brothers Harriman & Co. In its current portfolio, Geode Capital Management LLC holds 3,150,397 shares valued at $177.84 million.
In spite of this, 13 analysts ranked A. O. Smith Corporation stock as an Overweight at the end of 2022. On April 05, 2021, Stifel assigned a price target of “a Hold” to the stock and downgraded coverage with a $67.