New Age Alpha Advisors LLC Purchases New Shares in Applied Industrial Technologies, Inc. (NYSE:AIT)

New Age Alpha Advisors LLC acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,448 shares of the industrial products company's stock, valued at approximately $2,023,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of Applied Industrial Technologies by 5,900.0% in the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock valued at $29,000 after buying an additional 118 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Applied Industrial Technologies during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new position in Applied Industrial Technologies in the fourth quarter worth $44,000. Parkside Financial Bank & Trust grew its holdings in Applied Industrial Technologies by 25.3% in the fourth 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. Finally, Millburn Ridgefield Corp acquired a new position in shares of Applied Industrial Technologies during the third quarter worth $84,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Performance

NYSE AIT traded down $21.46 on Thursday, hitting $214.86. 82,593 shares of the company's stock traded hands, compared to its average volume of 278,268. The firm has a market capitalization of $8.25 billion, a PE ratio of 21.77, a P/E/G 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 firm's 50-day moving average price is $245.04 and its two-hundred day moving average price is $245.85. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32.

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Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results 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%. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.46 per share. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 18.64%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. KeyCorp lowered their target price on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Finally, Raymond James restated an "outperform" rating and set a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently 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.