Mutual of America Capital Management LLC Raises Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Mutual of America Capital Management LLC boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 239.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,040 shares of the industrial products company’s stock after buying an additional 16,256 shares during the quarter. Mutual of America Capital Management LLC owned 0.06% of Applied Industrial Technologies worth $4,552,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Applied Industrial Technologies by 978.3% during the fourth quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock worth $96,646,000 after buying an additional 507,750 shares during the period. Norges Bank acquired a new position in Applied Industrial Technologies in the 4th quarter valued at about $72,436,000. Assenagon Asset Management S.A. lifted its position in shares of Applied Industrial Technologies by 176.2% during the first quarter. Assenagon Asset Management S.A. now owns 309,700 shares of the industrial products company’s stock worth $61,181,000 after purchasing an additional 197,552 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Applied Industrial Technologies during the first quarter worth about $39,093,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $27,043,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $183.80 on Wednesday. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $191.35 and a 200-day simple moving average of $186.30. The stock has a market cap of $7.09 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. Applied Industrial Technologies, Inc. has a 12-month low of $138.38 and a 12-month high of $201.76.

Applied Industrial Technologies (NYSE:AITGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned $2.38 EPS. Applied Industrial Technologies’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts expect that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.81%. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

Insider Transactions at Applied Industrial Technologies

In related news, VP Jason W. Vasquez sold 650 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the transaction, the vice president now directly owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AIT. KeyCorp raised 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 report on Thursday, April 11th. Oppenheimer started coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price for the company. Finally, Northcoast Research began coverage on Applied Industrial Technologies in a report on Monday, July 1st. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.00.

View Our Latest Stock Report on AIT

Applied Industrial Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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