Charles Schwab Investment Management Inc. Boosts Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Charles Schwab Investment Management Inc. raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 2.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 559,037 shares of the industrial products company’s stock after acquiring an additional 11,092 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Applied Industrial Technologies were worth $96,540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Applied Industrial Technologies by 38.5% in the 3rd quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock valued at $251,329,000 after buying an additional 451,876 shares during the period. Invesco Ltd. grew its holdings in shares of Applied Industrial Technologies by 15.0% during the 3rd quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company’s stock worth $116,099,000 after purchasing an additional 98,144 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Applied Industrial Technologies by 5.4% during the 4th quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock worth $108,009,000 after purchasing an additional 32,282 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Applied Industrial Technologies by 19.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company’s stock worth $87,879,000 after purchasing an additional 83,585 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Applied Industrial Technologies by 0.5% during the 3rd quarter. Royal Bank of Canada now owns 269,891 shares of the industrial products company’s stock worth $41,728,000 after purchasing an additional 1,415 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Oppenheimer assumed coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 target price for the company. KeyCorp increased their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $201.00.

Get Our Latest Report on AIT

Applied Industrial Technologies Trading Up 0.4 %

NYSE:AIT opened at $197.33 on Monday. Applied Industrial Technologies, Inc. has a 1 year low of $122.24 and a 1 year high of $201.76. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.06 and a beta of 1.10. The business has a fifty day moving average of $189.93 and a 200-day moving average of $177.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77.

Applied Industrial Technologies (NYSE:AITGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.08. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $2.38 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.6 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.48 annualized dividend and a yield of 0.75%. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

Applied Industrial Technologies Profile

(Free Report)

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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