Hsbc Holdings PLC Has $6.54 Million Position in Applied Industrial Technologies (AIT)

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Hsbc Holdings PLC increased its position in shares of Applied Industrial Technologies (NYSE:AIT) by 72.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 121,286 shares of the industrial products company’s stock after buying an additional 51,087 shares during the period. Hsbc Holdings PLC’s holdings in Applied Industrial Technologies were worth $6,538,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Applied Industrial Technologies by 4.4% during the 4th quarter. BlackRock Inc. now owns 6,362,725 shares of the industrial products company’s stock worth $343,203,000 after acquiring an additional 267,302 shares in the last quarter. Vanguard Group Inc grew its holdings in Applied Industrial Technologies by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 3,879,484 shares of the industrial products company’s stock worth $303,570,000 after acquiring an additional 46,906 shares in the last quarter. Vanguard Group Inc. grew its holdings in Applied Industrial Technologies by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,879,484 shares of the industrial products company’s stock worth $303,570,000 after acquiring an additional 46,906 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Applied Industrial Technologies by 11.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,363,587 shares of the industrial products company’s stock worth $184,950,000 after acquiring an additional 241,427 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Applied Industrial Technologies by 0.4% during 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 acquiring an additional 4,270 shares in the last quarter. 88.86% of the stock is currently owned by hedge funds and other institutional investors.

NYSE AIT opened at $58.14 on Friday. Applied Industrial Technologies has a one year low of $50.56 and a one year high of $82.35. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $2.25 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.06 and a beta of 1.29.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, January 24th. The industrial products company reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.07). Applied Industrial Technologies had a net margin of 4.80% and a return on equity of 20.03%. The business had revenue of $840.00 million during the quarter, compared to analyst estimates of $855.94 million. During the same period last year, the firm posted $0.79 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Equities analysts forecast that Applied Industrial Technologies will post 4.58 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Friday, February 15th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 2.13%. Applied Industrial Technologies’s payout ratio is 33.16%.

Several brokerages have weighed in on AIT. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. KeyCorp raised shares of Applied Industrial Technologies from a “sector weight” rating to an “overweight” rating in a report on Tuesday, January 15th. Longbow Research raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Friday, March 8th. Wellington Shields lowered shares of Applied Industrial Technologies from a “buy” rating to a “gradually accumulate” rating in a report on Thursday, January 24th. Finally, Wells Fargo & Co decreased their price target on shares of Applied Industrial Technologies from $75.00 to $60.00 and set a “market perform” rating for the company in a report on Friday, December 21st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Applied Industrial Technologies presently has an average rating of “Hold” and a consensus price target of $71.00.

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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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