Federated Hermes Inc. Increases Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Federated Hermes Inc. raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 190,025 shares of the industrial products company's stock after acquiring an additional 24,631 shares during the period. Federated Hermes Inc. owned approximately 0.49% of Applied Industrial Technologies worth $32,815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of Applied Industrial Technologies by 7.0% in the 1st quarter. BlackRock Inc. now owns 7,001,286 shares of the industrial products company's stock valued at $718,751,000 after purchasing an additional 459,302 shares during the period. Vanguard Group Inc. lifted its stake in shares of Applied Industrial Technologies by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,863,708 shares of the industrial products company's stock valued at $499,893,000 after purchasing an additional 136,174 shares during the period. FMR LLC lifted its stake in shares of Applied Industrial Technologies by 38.5% in the 3rd quarter. FMR LLC now owns 1,625,565 shares of the industrial products company's stock valued at $251,329,000 after purchasing an additional 451,876 shares during the period. State Street Corp lifted its stake in shares of Applied Industrial Technologies by 0.7% in the 3rd quarter. State Street Corp now owns 1,383,105 shares of the industrial products company's stock valued at $142,156,000 after purchasing an additional 10,144 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Applied Industrial Technologies by 15.0% in the 3rd quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company's stock valued at $116,099,000 after purchasing an additional 98,144 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

NYSE:AIT traded down $0.54 during trading hours on Friday, reaching $183.45. 269,561 shares of the company were exchanged, compared to its average volume of 245,732. Applied Industrial Technologies, Inc. has a twelve month low of $122.24 and a twelve month high of $201.76. The firm has a market cap of $7.09 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08. The stock's 50-day moving average is $190.23 and its 200-day moving average is $174.79. 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:AIT - Get Free Report) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.49 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.37 per share. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.81%. Applied Industrial Technologies's dividend payout ratio is presently 15.53%.

Insider Transactions at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 2,000 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the completion of the sale, the vice president now owns 57,155 shares of the company's stock, valued at $10,421,642.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Applied Industrial Technologies in a research report on Tuesday, April 2nd. They set an "outperform" rating and a $235.00 price objective for the company. KeyCorp upped their price objective on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Industrial Technologies currently has an average rating of "Buy" and a consensus price target of $201.00.

Applied Industrial Technologies Profile

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.