Nisa Investment Advisors LLC Has $3.29 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Nisa Investment Advisors LLC lessened its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,029 shares of the industrial products company’s stock after selling 97 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Applied Industrial Technologies were worth $3,286,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in Applied Industrial Technologies during the third quarter worth $336,000. Measured Wealth Private Client Group LLC boosted its holdings in Applied Industrial Technologies by 7.0% during the third quarter. Measured Wealth Private Client Group LLC now owns 4,707 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 307 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Applied Industrial Technologies by 0.9% during the third quarter. Los Angeles Capital Management LLC now owns 39,547 shares of the industrial products company’s stock worth $6,114,000 after purchasing an additional 364 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in Applied Industrial Technologies by 494.2% during the third quarter. Illinois Municipal Retirement Fund now owns 26,013 shares of the industrial products company’s stock worth $4,022,000 after purchasing an additional 21,635 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Applied Industrial Technologies by 96.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 425,295 shares of the industrial products company’s stock worth $65,755,000 after purchasing an additional 208,315 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Activity

In related news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the transaction, the vice president now directly owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

AIT has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target for the company. KeyCorp increased their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $201.00.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $191.13 on Friday. The firm has a market capitalization of $7.39 billion, a PE ratio of 20.06, a PEG ratio of 2.03 and a beta of 1.08. The company’s 50-day moving average is $189.80 and its 200-day moving average is $173.21. Applied Industrial Technologies, Inc. has a fifty-two week low of $122.24 and a fifty-two week high of $201.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.74 and a quick ratio of 2.59.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.13. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The company’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. Equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a $0.37 dividend. The ex-dividend date was Wednesday, February 14th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 0.77%. Applied Industrial Technologies’s dividend payout ratio is presently 15.53%.

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.