Charles Schwab Investment Management Inc. Purchases 11,092 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Charles Schwab Investment Management Inc. grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 559,037 shares of the industrial products company's stock after buying an additional 11,092 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.45% of Applied Industrial Technologies worth $96,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in Applied Industrial Technologies by 38.5% during the 3rd quarter. FMR LLC now owns 1,625,565 shares of the industrial products company's stock worth $251,329,000 after acquiring an additional 451,876 shares during the period. Premier Fund Managers Ltd raised its stake in Applied Industrial Technologies by 70.7% in the third quarter. Premier Fund Managers Ltd now owns 241,600 shares of the industrial products company's stock valued at $38,094,000 after purchasing an additional 100,100 shares in the last quarter. Invesco Ltd. lifted its position in Applied Industrial Technologies by 15.0% during the third quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company's stock worth $116,099,000 after purchasing an additional 98,144 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Applied Industrial Technologies by 19.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company's stock worth $87,879,000 after buying an additional 83,585 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in Applied Industrial Technologies by 73.4% in the 3rd quarter. Federated Hermes Inc. now owns 165,394 shares of the industrial products company's stock valued at $25,572,000 after buying an additional 69,993 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Trading Down 1.2 %

AIT stock traded down $2.42 during trading on Monday, hitting $194.91. The company had a trading volume of 132,642 shares, compared to its average volume of 332,043. The stock has a market cap of $7.52 billion, a PE ratio of 20.43, a PEG ratio of 2.06 and a beta of 1.10. The business has a 50-day moving average of $190.10 and a 200-day moving average of $178.19. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies, Inc. has a one year low of $122.24 and a one year high of $201.76.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $2.38 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.6 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.51%.

Wall Street Analyst Weigh In

AIT has been the subject of a number of research reports. Oppenheimer started coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an "outperform" rating and a $235.00 target price for the company. KeyCorp boosted their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of "Buy" and an average target price of $201.00.

Applied Industrial Technologies Company 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.