Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,490 shares of the industrial products company's stock after buying an additional 2,465 shares during the period. Lisanti Capital Growth LLC's holdings in Applied Industrial Technologies were worth $3,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Applied Industrial Technologies in the 4th quarter valued at about $25,518,000. Arizona State Retirement System raised its position in shares of Applied Industrial Technologies by 0.4% during the 4th quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company's stock valued at $2,672,000 after buying an additional 40 shares during the period. Proficio Capital Partners LLC acquired a new position in Applied Industrial Technologies in the fourth quarter valued at approximately $6,767,000. Assetmark Inc. grew its position in Applied Industrial Technologies by 7.9% in the fourth quarter. Assetmark Inc. now owns 4,371 shares of the industrial products company's stock worth $1,047,000 after acquiring an additional 320 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Applied Industrial Technologies by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 571,275 shares of the industrial products company's stock worth $136,803,000 after purchasing an additional 1,958 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America raised Applied Industrial Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. KeyCorp increased their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Oppenheimer upped 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. Finally, StockNews.com cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Applied Industrial Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $291.43.

Applied Industrial Technologies Stock Down 0.4 %

Shares of NYSE:AIT traded down $0.91 on Tuesday, hitting $226.84. 276,625 shares of the company's stock were exchanged, compared to its average volume of 317,551. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98. The company has a market capitalization of $8.71 billion, a PE ratio of 22.98, a P/E/G ratio of 3.14 and a beta of 1.08. 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 firm's 50-day moving average is $252.35 and its 200 day moving average is $242.89.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) 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%. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current 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 issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, February 14th. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's dividend payout ratio is currently 18.64%.

About Applied Industrial Technologies

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.