Nordea Investment Management AB Buys 9,667 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Nordea Investment Management AB grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 202,050 shares of the industrial products company's stock after buying an additional 9,667 shares during the quarter. Nordea Investment Management AB owned 0.53% of Applied Industrial Technologies worth $48,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIT. Headlands Technologies LLC bought a new stake in Applied Industrial Technologies in the second quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $34,000. First Horizon Advisors Inc. lifted its stake in Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 88 shares during the last quarter. Quarry LP bought a new position in Applied Industrial Technologies during the second quarter valued at $39,000. Finally, UMB Bank n.a. increased its position in Applied Industrial Technologies by 68.1% in the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company's stock worth $42,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the transaction, the director now directly owns 3,462 shares in the company, valued at $952,326.96. This trade represents a 38.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares of the company's stock, valued at approximately $15,689,882.76. The trade was a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.67% of the company's stock.

Wall Street Analyst Weigh In

AIT has been the subject of several research reports. Bank of America upgraded Applied Industrial Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. KeyCorp upped their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Mizuho assumed coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 price objective for the company. Finally, StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $285.71.

Applied Industrial Technologies Price Performance

NYSE:AIT traded up $0.25 during trading hours on Wednesday, hitting $248.60. The stock had a trading volume of 262,643 shares, compared to its average volume of 479,589. The company has a 50 day simple moving average of $258.64 and a two-hundred day simple moving average of $226.06. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 3.71 and a beta of 1.08. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. Applied Industrial Technologies, Inc. has a one year low of $163.50 and a one year high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned $2.39 earnings per share. The firm's quarterly revenue was up .3% on a year-over-year basis. Research analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.60%. Applied Industrial Technologies's dividend payout ratio is presently 15.10%.

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.