Alliancebernstein L.P. Sells 2,148 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Alliancebernstein L.P. reduced its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,997 shares of the industrial products company's stock after selling 2,148 shares during the period. Alliancebernstein L.P. owned about 0.21% of Applied Industrial Technologies worth $18,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock worth $29,000 after buying an additional 118 shares during the last quarter. Kestra Investment Management LLC bought a new position in Applied Industrial Technologies in the 4th quarter valued at $30,000. SBI Securities Co. Ltd. bought a new position in Applied Industrial Technologies in the 4th quarter worth about $44,000. Parkside Financial Bank & Trust grew its holdings in shares of Applied Industrial Technologies by 25.3% during 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 in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock worth $91,000 after purchasing an additional 55 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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Applied Industrial Technologies Trading Up 2.6 %

AIT traded up $5.72 on Friday, hitting $226.40. 370,020 shares of the company were exchanged, compared to its average volume of 287,665. The stock has a market capitalization of $8.69 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 3.14 and a beta of 1.01. 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 quick ratio of 2.55 and a current ratio of 3.76. The firm has a fifty day simple moving average of $237.79 and a two-hundred day simple moving average of $245.62.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 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%. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.46 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 0.81%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.64%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AIT shares. StockNews.com cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Robert W. Baird increased their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating 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 for the company in a research note on Monday, March 17th. Finally, 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 report 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.