Calamos Advisors LLC Lowers Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Calamos Advisors LLC decreased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 53.8% in the fourth quarter, HoldingsChannel reports. The firm owned 5,342 shares of the industrial products company’s stock after selling 6,227 shares during the quarter. Calamos Advisors LLC’s holdings in Applied Industrial Technologies were worth $923,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AIT. Metropolitan Life Insurance Co NY lifted its stake in Applied Industrial Technologies by 3.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,351 shares of the industrial products company’s stock worth $296,000 after acquiring an additional 72 shares during the period. Pinnacle Associates Ltd. boosted its stake in shares of Applied Industrial Technologies by 0.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 9,933 shares of the industrial products company’s stock valued at $1,536,000 after purchasing an additional 77 shares in the last quarter. Blue Trust Inc. increased its position in shares of Applied Industrial Technologies by 0.8% during the fourth quarter. Blue Trust Inc. now owns 11,101 shares of the industrial products company’s stock valued at $1,917,000 after buying an additional 86 shares during the period. Sequoia Financial Advisors LLC raised its stake in Applied Industrial Technologies by 6.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,652 shares of the industrial products company’s stock worth $255,000 after buying an additional 93 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in Applied Industrial Technologies by 4.8% in the third quarter. Evergreen Capital Management LLC now owns 2,054 shares of the industrial products company’s stock worth $318,000 after buying an additional 95 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of Applied Industrial Technologies stock in a transaction on Friday, February 2nd. The stock was 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 owns 57,155 shares of the company’s stock, valued at approximately $10,421,642.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

AIT has been the topic of a number of research analyst reports. KeyCorp upped their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Oppenheimer began coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Buy” and a consensus price target of $201.00.

Applied Industrial Technologies Stock Down 0.3 %

AIT stock opened at $183.45 on Monday. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $190.23 and a 200 day moving average of $174.79. Applied Industrial Technologies, Inc. has a twelve month low of $122.24 and a twelve month high of $201.76. The firm has a market cap of $7.09 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. Applied Industrial Technologies’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a $0.37 dividend. 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 0.81%. The ex-dividend date was Wednesday, February 14th. Applied Industrial Technologies’s payout ratio is presently 15.53%.

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.