Federated Hermes Inc. Has $59.96 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Federated Hermes Inc. boosted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,378 shares of the industrial products company’s stock after buying an additional 6,399 shares during the quarter. Federated Hermes Inc.’s holdings in Applied Industrial Technologies were worth $59,958,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AIT. Townsquare Capital LLC acquired a new position in shares of Applied Industrial Technologies during the third quarter valued at $226,000. Walleye Capital LLC lifted its position in Applied Industrial Technologies by 16.4% during the 3rd quarter. Walleye Capital LLC now owns 1,996 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 281 shares during the period. Captrust Financial Advisors bought a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at about $227,000. HighTower Advisors LLC grew its position in shares of Applied Industrial Technologies by 39.8% during the 3rd quarter. HighTower Advisors LLC now owns 3,950 shares of the industrial products company’s stock worth $882,000 after buying an additional 1,124 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of Applied Industrial Technologies by 9.2% during the third quarter. Stifel Financial Corp now owns 29,694 shares of the industrial products company’s stock worth $6,626,000 after buying an additional 2,513 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AIT shares. Raymond James reaffirmed an “outperform” rating and issued a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Robert W. Baird upped their price objective on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, KeyCorp decreased their target price on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.29.

Applied Industrial Technologies Stock Down 2.5 %

NYSE:AIT opened at $211.16 on Monday. Applied Industrial Technologies, Inc. has a 1 year low of $177.68 and a 1 year high of $282.98. The stock has a 50-day moving average price of $243.16 and a two-hundred day moving average price of $246.11. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.14 and a beta of 1.01. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. As a group, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.46 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s payout ratio is currently 18.64%.

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.