A.O. Smith Corp. (NYSE:AOS) shares reached a new 52-week high on Friday . The company traded as high as $89.05 and last traded at $88.77, with a volume of 164,255 shares trading hands. The stock had previously closed at $87.48.

AOS has been the topic of a number of analyst reports. Sterne Agee CRT reiterated a “buy” rating on shares of A.O. Smith Corp. in a research report on Monday, May 16th. Zacks Investment Research upgraded shares of A.O. Smith Corp. from a “sell” rating to a “hold” rating in a research report on Friday, April 29th. Longbow Research initiated coverage on shares of A.O. Smith Corp. in a research report on Friday, June 17th. They set a “neutral” rating on the stock. BMO Capital Markets initiated coverage on shares of A.O. Smith Corp. in a research report on Tuesday, April 5th. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, KeyCorp reiterated an “overweight” rating and set a $88.00 price objective on shares of A.O. Smith Corp. in a research report on Friday, April 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $82.00.

The company has a market capitalization of $7.81 billion and a PE ratio of 26.71. The stock’s 50 day moving average price is $84.25 and its 200 day moving average price is $76.00.

A.O. Smith Corp. (NYSE:AOS) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The firm earned $636.70 million during the quarter, compared to analysts’ expectations of $651.48 million. During the same quarter in the previous year, the business posted $0.65 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that A.O. Smith Corp. will post $3.52 EPS for the current fiscal year.

In other A.O. Smith Corp. news, CEO Ajita G. Rajendra sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $82.74, for a total value of $1,654,800.00. Following the transaction, the chief executive officer now owns 150,185 shares in the company, valued at approximately $12,426,306.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Heideman sold 12,000 shares of the firm’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $76.93, for a total value of $923,160.00. Following the completion of the transaction, the vice president now owns 23,806 shares in the company, valued at approximately $1,831,395.58. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently made changes to their positions in AOS. OppenheimerFunds Inc. raised its position in shares of A.O. Smith Corp. by 16.6% in the fourth quarter. OppenheimerFunds Inc. now owns 2,059,554 shares of the company’s stock worth $157,783,000 after buying an additional 292,538 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of A.O. Smith Corp. by 116.6% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 301,055 shares of the company’s stock worth $23,063,000 after buying an additional 162,080 shares during the last quarter. Columbus Circle Investors purchased a new position in shares of A.O. Smith Corp. during the fourth quarter worth $9,866,000. Vanguard Group Inc. raised its position in shares of A.O. Smith Corp. by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 6,254,859 shares of the company’s stock worth $479,184,000 after buying an additional 52,859 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of A.O. Smith Corp. during the fourth quarter worth $3,897,000.

A. O. Smith Corporation operates its business through two segments, which include North America and Rest of World. The Company’s Rest of World segment primarily comprises China, Europe and India. The Rest of World segment supplies water heaters to the residential market in China with a range of product offering, including electric, gas, gas tankless, heat pump and solar units, as well as combi boilers.

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