Charles Schwab Investment Management Inc. Has $127.03 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Charles Schwab Investment Management Inc. grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 569,317 shares of the industrial products company's stock after purchasing an additional 3,887 shares during the period. Charles Schwab Investment Management Inc. owned about 1.48% of Applied Industrial Technologies worth $127,032,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in Applied Industrial Technologies in the first quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $32,000. V Square Quantitative Management LLC bought a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $34,000. Finally, First Horizon Advisors Inc. increased its holdings in Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 93.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AIT. Mizuho initiated coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an "outperform" rating and a $285.00 target price on the stock. Loop Capital upped their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. KeyCorp raised their price target on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Raymond James boosted their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Finally, Oppenheimer upped their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $278.57.

Insider Buying and Selling

In other Applied Industrial Technologies 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 trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.67% of the stock is currently owned by company insiders.

Applied Industrial Technologies Trading Up 0.8 %

NYSE:AIT traded up $2.16 during mid-day trading on Tuesday, hitting $280.71. The company had a trading volume of 439,998 shares, compared to its average volume of 286,238. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. Applied Industrial Technologies, Inc. has a fifty-two week low of $155.47 and a fifty-two week high of $282.32. The firm has a market cap of $10.79 billion, a P/E ratio of 28.64, a P/E/G ratio of 3.80 and a beta of 1.03. The business's fifty day moving average is $239.85 and its two-hundred day moving average is $212.39.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the company posted $2.39 EPS. Applied Industrial Technologies's revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts expect that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies's dividend payout ratio is currently 15.10%.

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.