Federated Hermes Inc. Sells 209 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Federated Hermes Inc. decreased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 234,857 shares of the industrial products company’s stock after selling 209 shares during the period. Federated Hermes Inc. owned approximately 0.61% of Applied Industrial Technologies worth $45,562,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AIT. QRG Capital Management Inc. grew its holdings in Applied Industrial Technologies by 0.9% during the second quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock valued at $1,254,000 after purchasing an additional 55 shares during the period. Miller Howard Investments Inc. NY increased its position in shares of Applied Industrial Technologies by 2.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock valued at $446,000 after buying an additional 55 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its holdings in Applied Industrial Technologies by 1.2% during the first quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock worth $969,000 after acquiring an additional 59 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Applied Industrial Technologies by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock valued at $3,374,000 after acquiring an additional 61 shares during the period. Finally, Private Advisor Group LLC increased its holdings in shares of Applied Industrial Technologies by 2.6% in the first quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock worth $490,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt W. Loring sold 3,366 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the sale, the vice president now owns 19,315 shares in the company, valued at approximately $4,037,221.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,927 shares of company stock valued at $2,439,116. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIT. KeyCorp lifted their price objective on Applied Industrial Technologies from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Loop Capital increased their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Robert W. Baird boosted their price objective on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Raymond James started coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 target price for the company. Finally, StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $223.00.

Applied Industrial Technologies Trading Up 1.0 %

Applied Industrial Technologies stock opened at $203.98 on Friday. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 2.00 and a beta of 1.03. The firm has a 50-day moving average of $201.44 and a 200-day moving average of $194.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. Applied Industrial Technologies, Inc. has a one year low of $149.59 and a one year high of $223.15.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.52 by $0.12. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 earnings per share. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.86 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.73%. Applied Industrial Technologies’s payout ratio is 15.51%.

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.