Applied Industrial Technologies, Inc. (NYSE:AIT) Holdings Increased by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,024 shares of the industrial products company’s stock after purchasing an additional 3,458 shares during the period. Cerity Partners LLC’s holdings in Applied Industrial Technologies were worth $6,912,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at $336,000. Allspring Global Investments Holdings LLC lifted its holdings in Applied Industrial Technologies by 19.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company’s stock valued at $87,879,000 after acquiring an additional 83,585 shares during the last quarter. Measured Wealth Private Client Group LLC boosted its position in shares of Applied Industrial Technologies by 7.0% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 4,707 shares of the industrial products company’s stock valued at $728,000 after purchasing an additional 307 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Applied Industrial Technologies by 0.9% in the 3rd 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. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Applied Industrial Technologies by 494.2% in the 3rd 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 in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 2,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Applied Industrial Technologies Stock Down 1.0 %

AIT stock opened at $189.16 on Tuesday. The company’s 50 day simple moving average is $190.16 and its 200-day simple moving average is $173.93. Applied Industrial Technologies, Inc. has a 52-week low of $122.24 and a 52-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. The firm has a market capitalization of $7.31 billion, a P/E ratio of 19.85, a P/E/G ratio of 2.01 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share (EPS) 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 the consensus estimate 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 previous year, the business earned $2.05 EPS. As a group, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a dividend of $0.37 per share. 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 dividend on an annualized basis and a yield of 0.78%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.53%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AIT. KeyCorp raised their target price on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Oppenheimer assumed coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $201.00.

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.