EULAV Asset Management increased its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,400 shares of the industrial products company's stock after buying an additional 10,100 shares during the period. EULAV Asset Management owned 0.14% of Applied Industrial Technologies worth $13,267,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AIT. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies in the third quarter valued at approximately $34,000. First Horizon Advisors Inc. grew its position in Applied Industrial Technologies by 106.0% in the 3rd 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 period. UMB Bank n.a. increased its stake in Applied Industrial Technologies by 68.1% during the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 77 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in Applied Industrial Technologies during the 3rd quarter valued at $84,000. Finally, Versant Capital Management Inc raised its holdings in Applied Industrial Technologies by 16.8% during the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock worth $91,000 after buying an additional 55 shares during the last quarter. 93.52% of the stock is owned by institutional investors.
Applied Industrial Technologies Stock Performance
Applied Industrial Technologies stock traded down $2.55 during mid-day trading on Wednesday, reaching $259.95. 155,062 shares of the company's stock were exchanged, compared to its average volume of 324,316. The firm has a market capitalization of $9.98 billion, a PE ratio of 26.34, a P/E/G ratio of 3.43 and a beta of 1.08. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The business's fifty day simple moving average is $255.19 and its 200 day simple moving average is $236.61. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98.
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 net margin of 8.62% and a return on equity of 22.37%. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.87 earnings per share for the current year.
Applied Industrial Technologies Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, February 14th. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's payout ratio is 14.99%.
Insider Activity at Applied Industrial Technologies
In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of the business's stock in a transaction 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 sale, the director now owns 3,462 shares of the company's stock, valued at $952,326.96. The trade was a 38.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the sale, the vice president now owns 55,709 shares in the company, valued at approximately $15,689,882.76. This 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.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AIT. Loop Capital lifted their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a "buy" rating in a report on Monday, October 28th. Oppenheimer lifted their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Raymond James reissued an "outperform" rating and issued a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Robert W. Baird raised their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Mizuho initiated coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $291.43.
Read Our Latest Stock Analysis on Applied Industrial Technologies
About Applied Industrial Technologies
(
Free Report)
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.
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