Virtu Financial LLC Takes $1.08 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Virtu Financial LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,519 shares of the industrial products company's stock, valued at approximately $1,082,000.

A number of other hedge funds have also made changes to their positions in AIT. Magnetar Financial LLC bought a new position in Applied Industrial Technologies during the 4th quarter valued at $1,472,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at $1,265,000. Xponance Inc. boosted its stake in Applied Industrial Technologies by 5.2% during the fourth quarter. Xponance Inc. now owns 5,464 shares of the industrial products company's stock valued at $1,308,000 after buying an additional 272 shares in the last quarter. Intech Investment Management LLC grew its holdings in Applied Industrial Technologies by 122.3% during the fourth quarter. Intech Investment Management LLC now owns 17,696 shares of the industrial products company's stock worth $4,238,000 after acquiring an additional 9,737 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new stake in Applied Industrial Technologies in the fourth quarter worth about $327,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Stock Down 0.0 %

Shares of AIT traded down $0.10 during mid-day trading on Thursday, reaching $232.79. The company's stock had a trading volume of 258,037 shares, compared to its average volume of 261,509. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 1 year low of $177.68 and a 1 year high of $282.98. 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 has a fifty day moving average of $247.93 and a 200 day moving average of $244.79.

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Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, beating 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%. As a group, analysts forecast 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. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.79%. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's dividend payout ratio (DPR) is 18.64%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AIT shares. Raymond James reaffirmed an "outperform" rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. KeyCorp dropped their price target 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. StockNews.com lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird boosted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Two investment 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $284.29.

Applied Industrial Technologies 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.