Hsbc Holdings PLC Increases Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Hsbc Holdings PLC increased its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 238.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 33,824 shares of the industrial products company’s stock after acquiring an additional 23,819 shares during the period. Hsbc Holdings PLC owned approximately 0.09% of Applied Industrial Technologies worth $6,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Applied Industrial Technologies by 10.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 2,133 shares of the industrial products company’s stock valued at $368,000 after purchasing an additional 194 shares during the period. Norges Bank purchased a new position in Applied Industrial Technologies in the 4th quarter valued at about $72,436,000. UBS Group AG increased its position in shares of Applied Industrial Technologies by 153.5% during the fourth quarter. UBS Group AG now owns 36,735 shares of the industrial products company’s stock worth $6,344,000 after acquiring an additional 22,242 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Applied Industrial Technologies by 52.2% during the fourth quarter. Corient Private Wealth LLC now owns 3,803 shares of the industrial products company’s stock worth $657,000 after acquiring an additional 1,305 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Applied Industrial Technologies by 20.6% in the fourth quarter. TD Asset Management Inc now owns 17,000 shares of the industrial products company’s stock worth $2,936,000 after acquiring an additional 2,900 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 2.7 %

Applied Industrial Technologies stock opened at $224.77 on Tuesday. Applied Industrial Technologies, Inc. has a 1 year low of $149.59 and a 1 year high of $226.23. The firm’s 50-day moving average is $204.64 and its 200-day moving average is $195.83. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. The company has a market cap of $8.68 billion, a P/E ratio of 23.56, a PEG ratio of 2.00 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $2.35 earnings per share. Applied Industrial Technologies’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.86 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.37 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.66%. Applied Industrial Technologies’s payout ratio is currently 15.51%.

Analyst Upgrades and Downgrades

AIT has been the topic of several analyst reports. Raymond James assumed coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price objective on the stock. Robert W. Baird upped their price target on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating on the stock. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, KeyCorp increased their price target on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $229.00.

Insider Activity

In related news, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,927 shares of company stock valued at $2,439,116. Insiders own 2.20% of the company’s stock.

About Applied Industrial Technologies

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.