5,625 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,625 shares of the industrial products company's stock, valued at approximately $1,347,000.

Several other large investors have also modified their holdings of the business. Barclays PLC increased its holdings in Applied Industrial Technologies by 156.6% in the third quarter. Barclays PLC now owns 74,109 shares of the industrial products company's stock valued at $16,537,000 after buying an additional 45,224 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Applied Industrial Technologies in the 4th quarter worth $44,000. Nordea Investment Management AB raised its holdings in Applied Industrial Technologies by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company's stock worth $48,540,000 after purchasing an additional 9,667 shares in the last quarter. Mountain Pacific Investment Advisers LLC lifted its holdings in shares of Applied Industrial Technologies by 36.6% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 46,155 shares of the industrial products company's stock valued at $11,053,000 after buying an additional 12,364 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Applied Industrial Technologies by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 233,655 shares of the industrial products company's stock worth $53,238,000 after purchasing an additional 29,288 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

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Applied Industrial Technologies Stock Performance

Shares of NYSE AIT traded up $0.41 during mid-day trading on Friday, hitting $221.09. The company had a trading volume of 81,882 shares, compared to its average volume of 286,132. Applied Industrial Technologies, Inc. has a 12 month low of $177.68 and a 12 month high of $282.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The firm's 50 day simple moving average is $238.47 and its two-hundred day simple moving average is $245.57. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 3.14 and a beta of 1.01.

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 for the quarter, topping the consensus estimate 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, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.46 per share. 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 0.83%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies's payout ratio is presently 18.64%.

Wall Street Analysts Forecast Growth

AIT has been the topic of several recent research reports. StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. KeyCorp cut their target price on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Raymond James reiterated an "outperform" rating and set a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Finally, Robert W. Baird boosted their price target 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of "Moderate Buy" and an average price target 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.