American Century Companies Inc. Has $36.30 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

American Century Companies Inc. decreased its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,587 shares of the industrial products company's stock after selling 170,492 shares during the period. American Century Companies Inc. owned 0.39% of Applied Industrial Technologies worth $36,301,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AIT. Larson Financial Group LLC lifted its position in shares of 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 purchasing an additional 118 shares in the last quarter. Kestra Investment Management LLC bought a new position in Applied Industrial Technologies in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new position in Applied Industrial Technologies in the 4th quarter worth approximately $44,000. Parkside Financial Bank & Trust lifted its holdings in 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 in the last quarter. Finally, Millburn Ridgefield Corp bought a new position in Applied Industrial Technologies in the 3rd quarter valued at $84,000. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Trading Up 1.9 %

NYSE:AIT traded up $4.38 during trading hours on Tuesday, hitting $229.72. The stock had a trading volume of 254,722 shares, compared to its average volume of 278,834. The business's 50 day moving average is $245.54 and its 200-day moving average is $245.92. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year 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.

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Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 0.80%. Applied Industrial Technologies's payout ratio is currently 18.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AIT. KeyCorp cut their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Robert W. Baird upped their target price 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. StockNews.com lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, Raymond James reissued an "outperform" rating and set a $265.00 price target (up 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.