Hsbc Holdings PLC lessened its position in Applied Industrial Technologies (NYSE:AIT) by 53.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 70,199 shares of the industrial products company’s stock after selling 79,329 shares during the period. Hsbc Holdings PLC’s holdings in Applied Industrial Technologies were worth $5,493,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Stevens Capital Management LP acquired a new stake in Applied Industrial Technologies in the 3rd quarter worth $509,000. Dimensional Fund Advisors LP grew its position in Applied Industrial Technologies by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,198,053 shares of the industrial products company’s stock worth $93,748,000 after purchasing an additional 4,270 shares during the last quarter. Quantbot Technologies LP grew its position in Applied Industrial Technologies by 728.1% in the 3rd quarter. Quantbot Technologies LP now owns 13,689 shares of the industrial products company’s stock worth $1,071,000 after purchasing an additional 12,036 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Applied Industrial Technologies in the 3rd quarter worth $4,718,000. Finally, Trexquant Investment LP acquired a new stake in Applied Industrial Technologies in the 3rd quarter worth $422,000. Institutional investors and hedge funds own 88.14% of the company’s stock.
Several analysts have issued reports on AIT shares. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Wells Fargo & Co decreased their price target on shares of Applied Industrial Technologies from $80.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, November 1st. Northcoast Research restated a “neutral” rating on shares of Applied Industrial Technologies in a research report on Friday, August 10th. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Monday, August 13th. Finally, Wellington Shields upgraded shares of Applied Industrial Technologies from a “gradually accumulate” rating to a “buy” rating in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $79.00.
In other news, Director Green Edith Kelly sold 7,090 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 19,240 shares of the company’s stock, valued at approximately $1,260,412.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is currently owned by company insiders.
NYSE:AIT opened at $59.64 on Friday. The stock has a market cap of $2.34 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.05 and a beta of 1.11. Applied Industrial Technologies has a 52 week low of $59.01 and a 52 week high of $82.35. 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 quarterly earnings data on Wednesday, October 31st. The industrial products company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.12. The company had revenue of $864.50 million during the quarter, compared to the consensus estimate of $874.74 million. Applied Industrial Technologies had a net margin of 4.82% and a return on equity of 19.66%. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. On average, equities research analysts expect that Applied Industrial Technologies will post 4.8 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, November 14th. Applied Industrial Technologies’s payout ratio is 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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