Fairvoy Private Wealth LLC Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Fairvoy Private Wealth LLC bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,000 shares of the industrial products company's stock, valued at approximately $239,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AIT. Zurich Insurance Group Ltd FI bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at about $84,139,000. Westfield Capital Management Co. LP bought a new stake in Applied Industrial Technologies in the third quarter valued at approximately $32,233,000. Fiera Capital Corp increased its position in Applied Industrial Technologies by 456.3% during the 3rd quarter. Fiera Capital Corp now owns 130,895 shares of the industrial products company's stock valued at $29,207,000 after purchasing an additional 107,365 shares during the period. International Assets Investment Management LLC bought a new position in Applied Industrial Technologies during the 3rd quarter worth approximately $213,590,000. Finally, Eagle Asset Management Inc. acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $13,034,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $285.00 price objective for the company. Robert W. Baird increased their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Bank of America raised Applied Industrial Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $285.00 to $315.00 in a research note on Tuesday, November 26th. Loop Capital raised their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Finally, StockNews.com lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note 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's stock. According to data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.43.

Applied Industrial Technologies Stock Down 0.6 %

Shares of NYSE:AIT traded down $1.47 during trading on Tuesday, reaching $262.44. 243,859 shares of the stock were exchanged, compared to its average volume of 330,587. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. The stock has a fifty day moving average of $255.49 and a two-hundred day moving average of $236.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.87 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.46 dividend. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, February 14th. Applied Industrial Technologies's dividend payout ratio is presently 14.99%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the sale, the director now owns 3,462 shares in the company, valued at $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the transaction, the vice president now owns 55,709 shares in the company, valued at $15,689,882.76. The trade was a 6.70 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.67% of the company's stock.

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.