1,402 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by Headlands Technologies LLC

Headlands Technologies LLC purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,402 shares of the industrial products company's stock, valued at approximately $336,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in Applied Industrial Technologies by 0.4% during the fourth quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company's stock worth $2,672,000 after buying an additional 40 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Applied Industrial Technologies by 25.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock worth $49,000 after purchasing an additional 41 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock valued at $91,000 after purchasing an additional 55 shares during the period. CIBC Asset Management Inc lifted its stake in Applied Industrial Technologies by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,206 shares of the industrial products company's stock valued at $289,000 after purchasing an additional 64 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Applied Industrial Technologies by 3.7% during the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company's stock worth $429,000 after purchasing an additional 68 shares during the period. Institutional investors own 93.52% of the company's stock.

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Analyst Upgrades and Downgrades

AIT has been the subject of several research analyst reports. Raymond James reiterated an "outperform" rating and set a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, KeyCorp decreased their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $284.29.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT traded down $12.46 during trading on Thursday, hitting $219.52. 112,910 shares of the company were exchanged, compared to its average volume of 285,523. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98. The company has a market capitalization of $8.42 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 3.14 and a beta of 1.01. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The business's 50 day moving average is $239.22 and its 200-day moving average is $245.59.

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

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.84%. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.64%.

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.