Charles Schwab Investment Management Inc. Grows Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Charles Schwab Investment Management Inc. lifted its position in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 30.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 547,945 shares of the industrial products company’s stock after acquiring an additional 128,629 shares during the period. Charles Schwab Investment Management Inc. owned 1.41% of Applied Industrial Technologies worth $84,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Raymond James & Associates boosted its stake in Applied Industrial Technologies by 13.1% during the 1st quarter. Raymond James & Associates now owns 14,939 shares of the industrial products company’s stock worth $1,534,000 after purchasing an additional 1,726 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Applied Industrial Technologies during the first quarter worth about $271,000. Citigroup Inc. grew its stake in Applied Industrial Technologies by 3.4% during the 1st quarter. Citigroup Inc. now owns 38,917 shares of the industrial products company’s stock valued at $3,995,000 after acquiring an additional 1,262 shares in the last quarter. Bank of Montreal Can raised its holdings in Applied Industrial Technologies by 35.6% in the 1st quarter. Bank of Montreal Can now owns 16,704 shares of the industrial products company’s stock valued at $1,702,000 after acquiring an additional 4,388 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Applied Industrial Technologies by 53.9% in the 1st quarter. MetLife Investment Management LLC now owns 20,446 shares of the industrial products company’s stock valued at $2,099,000 after acquiring an additional 7,164 shares during the last quarter. 92.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, KeyCorp upped their price target on Applied Industrial Technologies from $182.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 26th.

View Our Latest Stock Analysis on AIT

Applied Industrial Technologies Trading Up 1.8 %

Shares of AIT opened at $187.93 on Monday. Applied Industrial Technologies, Inc. has a 12-month low of $122.24 and a 12-month high of $188.49. The firm has a market capitalization of $7.27 billion, a P/E ratio of 19.72 and a beta of 1.07. The firm has a 50-day moving average price of $172.85 and a 200 day moving average price of $161.26. The company has a current ratio of 3.74, a quick ratio of 2.59 and a debt-to-equity ratio of 0.36.

Applied Industrial Technologies (NYSE:AITGet Free Report) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.13. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.59 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.35. Applied Industrial Technologies’s dividend payout ratio is 14.69%.

Insider Transactions at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 2,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the sale, the vice president now directly owns 57,155 shares in the company, valued at approximately $10,421,642.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Warren E. Hoffner III sold 2,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the completion of the sale, the vice president now owns 57,155 shares in the company, valued at approximately $10,421,642.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kurt W. Loring sold 5,470 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $164.50, for a total value of $899,815.00. Following the completion of the sale, the vice president now directly owns 21,269 shares in the company, valued at approximately $3,498,750.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,584 shares of company stock worth $1,772,312. 2.20% of the stock is currently owned by company insiders.

About Applied Industrial Technologies

(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.

See Also

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

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