Stonegate Investment Group LLC Has $936,000 Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Stonegate Investment Group LLC boosted its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 160.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,909 shares of the industrial products company's stock after buying an additional 2,409 shares during the period. Stonegate Investment Group LLC's holdings in Applied Industrial Technologies were worth $936,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans grew its position in Applied Industrial Technologies by 37.5% in the second quarter. Thrivent Financial for Lutherans now owns 13,427 shares of the industrial products company's stock worth $2,605,000 after buying an additional 3,665 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Applied Industrial Technologies by 9.9% in the 2nd quarter. Squarepoint Ops LLC now owns 6,722 shares of the industrial products company's stock worth $1,304,000 after acquiring an additional 608 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Applied Industrial Technologies by 57.6% during the second quarter. AQR Capital Management LLC now owns 52,476 shares of the industrial products company's stock worth $10,120,000 after purchasing an additional 19,169 shares during the period. Creative Planning lifted its holdings in shares of Applied Industrial Technologies by 13.2% during the second quarter. Creative Planning now owns 8,839 shares of the industrial products company's stock valued at $1,715,000 after purchasing an additional 1,034 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Insider Activity

In related news, Director Mary Dean Hall sold 2,200 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares in the company, valued at $952,326.96. This trade represents a 38.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction dated 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 sale, the vice president now owns 55,709 shares of the company's stock, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on AIT shares. Raymond James raised their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. KeyCorp boosted their target price 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 initiated coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 target price for the company. Robert W. Baird upped their price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, Oppenheimer raised their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $285.71.

Applied Industrial Technologies Stock Up 1.1 %

Shares of AIT stock traded up $2.66 on Wednesday, hitting $254.88. The company's stock had a trading volume of 551,949 shares, compared to its average volume of 344,013. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 3.59 and a beta of 1.08. Applied Industrial Technologies, Inc. has a fifty-two week low of $176.32 and a fifty-two week high of $282.98. The firm's fifty day moving average price is $257.71 and its 200-day moving average price is $232.80.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released 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 8.57% and a return on equity of 22.68%. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.77 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid 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 0.72%. Applied Industrial Technologies's dividend payout ratio is presently 15.10%.

Applied Industrial Technologies Company 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.