Paralel Advisors LLC Buys 1,152 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Paralel Advisors LLC boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,707 shares of the industrial products company's stock after acquiring an additional 1,152 shares during the quarter. Paralel Advisors LLC's holdings in Applied Industrial Technologies were worth $3,043,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in shares of Applied Industrial Technologies by 3.9% in the 4th quarter. Bessemer Group Inc. now owns 151,841 shares of the industrial products company's stock valued at $36,360,000 after purchasing an additional 5,638 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Applied Industrial Technologies during the fourth quarter worth about $25,518,000. Advisory Services Network LLC acquired a new position in Applied Industrial Technologies during the fourth quarter worth about $250,000. Renaissance Technologies LLC bought a new position in shares of Applied Industrial Technologies in the fourth quarter worth about $9,543,000. Finally, Invesco Ltd. boosted its stake in shares of Applied Industrial Technologies by 7.2% in the 4th quarter. Invesco Ltd. now owns 1,271,356 shares of the industrial products company's stock valued at $304,452,000 after purchasing an additional 85,270 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Up 0.4 %

Shares of NYSE AIT traded up $0.94 during midday trading on Tuesday, reaching $227.30. The stock had a trading volume of 94,679 shares, compared to its average volume of 287,656. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve 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 company's 50 day moving average price is $237.04 and its 200 day moving average price is $245.81. The firm has a market cap of $8.72 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.01.

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Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies's dividend payout ratio is presently 18.64%.

Wall Street Analysts Forecast Growth

AIT has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. KeyCorp lowered their target price on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, March 17th. 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 issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.