Schwab Charles Investment Management Inc. increased its stake in Applied Industrial Technologies (NYSE:AIT) by 1.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 347,092 shares of the industrial products company’s stock after buying an additional 3,527 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Applied Industrial Technologies were worth $23,637,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its position in Applied Industrial Technologies by 7.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 226 shares in the last quarter. Hartford Investment Management Co. bought a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $207,000. Teacher Retirement System of Texas bought a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $212,000. Cambridge Investment Research Advisors Inc. bought a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $223,000. Finally, QS Investors LLC lifted its position in Applied Industrial Technologies by 27.0% in the 2nd quarter. QS Investors LLC now owns 3,917 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 833 shares in the last quarter. Institutional investors own 88.21% of the company’s stock.
Several equities analysts recently issued reports on AIT shares. ValuEngine cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Friday, December 8th. Finally, Wellington Shields raised Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $71.00.
Applied Industrial Technologies (NYSE AIT) opened at $72.15 on Friday. The firm has a market capitalization of $2,790.40, a price-to-earnings ratio of 22.83, a PEG ratio of 1.74 and a beta of 0.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.90 and a current ratio of 3.33. Applied Industrial Technologies has a twelve month low of $54.00 and a twelve month high of $75.35.
Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.06. The firm had revenue of $667.19 million for the quarter, compared to analysts’ expectations of $651.05 million. Applied Industrial Technologies had a return on equity of 16.53% and a net margin of 5.43%. sell-side analysts predict that Applied Industrial Technologies will post 3.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.66%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 14th. Applied Industrial Technologies’s dividend payout ratio is presently 32.09%.
In other news, VP Todd A. Barlett sold 3,800 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $75.00, for a total transaction of $285,000.00. Following the transaction, the vice president now directly owns 90,155 shares of the company’s stock, valued at approximately $6,761,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Green Edith Kelly sold 6,873 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $74.41, for a total value of $511,419.93. Following the transaction, the director now directly owns 24,230 shares in the company, valued at $1,802,954.30. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.
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Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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