Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 47.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,199 shares of the industrial products company’s stock after acquiring an additional 711 shares during the quarter. Cerity Partners LLC’s holdings in Applied Industrial Technologies were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Applied Industrial Technologies by 5,900.0% during the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after buying an additional 118 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Applied Industrial Technologies during the 4th quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth about $44,000. Huntington National Bank lifted its position in Applied Industrial Technologies by 33.8% in the fourth quarter. Huntington National Bank now owns 186 shares of the industrial products company’s stock valued at $45,000 after buying an additional 47 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Applied Industrial Technologies by 25.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock worth $49,000 after buying an additional 41 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AIT shares. Loop Capital lowered their price objective on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. KeyCorp cut their price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Raymond James reaffirmed an “outperform” rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. Robert W. Baird raised their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.14.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $214.36 on Tuesday. Applied Industrial Technologies, Inc. has a 12 month low of $177.68 and a 12 month high of $282.98. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. The company has a market cap of $8.23 billion, a P/E ratio of 21.72, a PEG ratio of 3.14 and a beta of 1.01. The firm has a fifty day moving average price of $232.72 and a 200 day moving average price of $245.73.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.86%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.64%.

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.