Applied Industrial Technologies (AIT) Stake Lessened by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in Applied Industrial Technologies (NYSE:AIT) by 53.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,199 shares of the industrial products company’s stock after selling 79,329 shares during the period. Hsbc Holdings PLC owned approximately 0.18% of Applied Industrial Technologies worth $5,493,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Applied Industrial Technologies by 1.7% in the third quarter. BlackRock Inc. now owns 6,095,423 shares of the industrial products company’s stock valued at $476,966,000 after acquiring an additional 100,031 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Applied Industrial Technologies by 11.4% in the third quarter. JPMorgan Chase & Co. now owns 2,363,587 shares of the industrial products company’s stock valued at $184,950,000 after acquiring an additional 241,427 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Applied Industrial Technologies by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,198,053 shares of the industrial products company’s stock valued at $93,748,000 after acquiring an additional 4,270 shares in the last quarter. FMR LLC boosted its holdings in shares of Applied Industrial Technologies by 20.7% in the third quarter. FMR LLC now owns 1,097,672 shares of the industrial products company’s stock valued at $85,893,000 after acquiring an additional 188,411 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Applied Industrial Technologies by 34.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 736,681 shares of the industrial products company’s stock valued at $51,678,000 after acquiring an additional 189,474 shares in the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

In related news, Director Green Edith Kelly sold 7,090 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $65.51, for a total transaction of $464,465.90. Following the completion of the sale, the director now directly owns 19,240 shares of the company’s stock, valued at $1,260,412.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on the stock. Wells Fargo & Co decreased their price objective on shares of Applied Industrial Technologies from $80.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, November 1st. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Northcoast Research reiterated a “neutral” rating on shares of Applied Industrial Technologies in a report on Friday, August 10th. Wellington Shields raised shares of Applied Industrial Technologies from a “gradually accumulate” rating to a “buy” rating in a research note on Monday, August 13th. Finally, Zacks Investment Research lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $79.00.

AIT stock opened at $59.64 on Friday. Applied Industrial Technologies has a 12 month low of $59.01 and a 12 month high of $82.35. The company has a market cap of $2.34 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.05 and a beta of 1.11. The company has a quick ratio of 1.67, a current ratio of 2.76 and a debt-to-equity ratio of 1.09.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Wednesday, October 31st. The industrial products company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.12 by $0.12. Applied Industrial Technologies had a net margin of 4.82% and a return on equity of 19.66%. The business had revenue of $864.50 million during the quarter, compared to analyst estimates of $874.74 million. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 27.0% on a year-over-year basis. Equities analysts predict that Applied Industrial Technologies will post 4.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Thursday, November 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.01%. The ex-dividend date was Wednesday, November 14th. Applied Industrial Technologies’s dividend payout ratio is presently 32.09%.

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Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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

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