Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,379 shares of the industrial products company’s stock after selling 150 shares during the quarter. Mackenzie Financial Corp’s holdings in Applied Industrial Technologies were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Strs Ohio boosted its position in shares of Applied Industrial Technologies by 1.0% during the 4th quarter. Strs Ohio now owns 40,200 shares of the industrial products company’s stock valued at $6,942,000 after acquiring an additional 400 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Applied Industrial Technologies during the 4th quarter valued at about $3,350,000. WCM Investment Management LLC boosted its position in shares of Applied Industrial Technologies by 7.9% during the 4th quarter. WCM Investment Management LLC now owns 121,454 shares of the industrial products company’s stock valued at $21,152,000 after acquiring an additional 8,845 shares during the last quarter. Sapient Capital LLC acquired a new position in shares of Applied Industrial Technologies during the 4th quarter valued at about $321,000. Finally, Cerity Partners LLC boosted its position in shares of Applied Industrial Technologies by 9.5% during the 4th quarter. Cerity Partners LLC now owns 40,024 shares of the industrial products company’s stock valued at $6,912,000 after acquiring an additional 3,458 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AIT shares. Oppenheimer initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 price target on the stock. KeyCorp increased their target price on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $201.00.

Insider Activity

In other news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s 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 transaction, the vice president now 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 at the SEC website. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Trading Up 1.1 %

Shares of AIT stock opened at $180.89 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.59. The firm has a market cap of $7.00 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.87 and a beta of 1.08. The company has a 50-day moving average of $189.87 and a two-hundred day moving average of $175.59. Applied Industrial Technologies, Inc. has a 1-year low of $122.24 and a 1-year high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted $2.38 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts predict that Applied Industrial Technologies, Inc. will post 9.55 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s payout ratio is 15.51%.

About Applied Industrial Technologies

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.