BNP Paribas Financial Markets Raises Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

BNP Paribas Financial Markets lifted its position in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,678 shares of the industrial products company’s stock after buying an additional 2,564 shares during the period. BNP Paribas Financial Markets owned approximately 0.10% of Applied Industrial Technologies worth $7,246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIT. Capital Research Global Investors grew its position in shares of Applied Industrial Technologies by 978.3% in the 4th 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 last quarter. Norges Bank purchased a new position in shares of Applied Industrial Technologies in the 4th quarter worth approximately $72,436,000. Assenagon Asset Management S.A. grew its position in shares of Applied Industrial Technologies by 176.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 309,700 shares of the industrial products company’s stock worth $61,181,000 after buying an additional 197,552 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Applied Industrial Technologies in the 4th quarter worth approximately $27,043,000. Finally, Capital World Investors grew its position in Applied Industrial Technologies by 51.7% during the 4th quarter. Capital World Investors now owns 310,480 shares of the industrial products company’s stock worth $53,617,000 after purchasing an additional 105,824 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $185.89 on Thursday. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies, Inc. has a 12 month low of $138.38 and a 12 month high of $201.76. The company has a 50 day simple moving average of $191.47 and a two-hundred day simple moving average of $186.37. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.86 and a beta of 1.06.

Applied Industrial Technologies (NYSE:AITGet Free Report) last announced 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 analysts’ expectations of $1.13 billion. During the same period in the previous year, the business posted $2.38 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, analysts predict that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, August 15th. Applied Industrial Technologies’s payout ratio is 15.51%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $196.71, for a total transaction of $127,861.50. Following the completion of the sale, the vice president now directly owns 22,960 shares in the company, valued at approximately $4,516,461.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AIT shares. KeyCorp boosted 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 report on Thursday, April 11th. Northcoast Research started coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating on the stock. Finally, Oppenheimer started coverage on shares of Applied Industrial Technologies in a research report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Read Our Latest Report on Applied Industrial Technologies

About Applied Industrial Technologies

(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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