Proficio Capital Partners LLC Invests $6.77 Million in Applied Industrial Technologies, Inc. (NYSE:AIT)

Proficio Capital Partners LLC acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,257 shares of the industrial products company's stock, valued at approximately $6,767,000. Proficio Capital Partners LLC owned 0.07% of Applied Industrial Technologies as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AIT. Kestra Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. grew its position in shares of Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock worth $38,000 after buying an additional 88 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth approximately $44,000. Parkside Financial Bank & Trust grew its position 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 buying an additional 41 shares during the period. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $84,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Raymond James reissued an "outperform" rating and issued a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. KeyCorp reduced their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a research report on Monday. Bank of America raised shares of Applied Industrial Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $284.29.

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Applied Industrial Technologies Stock Down 0.8 %

AIT traded down $1.83 during mid-day trading on Thursday, reaching $228.43. 396,466 shares of the stock were exchanged, compared to its average volume of 260,788. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. The stock has a market capitalization of $8.77 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The company has a 50 day moving average price of $249.72 and a two-hundred day moving average price of $243.62. 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 posted its quarterly earnings data 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 net margin of 8.62% and a return on equity of 22.37%. As a group, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies's payout ratio is presently 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.