Thrivent Financial for Lutherans Sells 14,152 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Thrivent Financial for Lutherans decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 44.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,027 shares of the industrial products company's stock after selling 14,152 shares during the quarter. Thrivent Financial for Lutherans' holdings in Applied Industrial Technologies were worth $4,317,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI bought a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $84,139,000. Raymond James Financial Inc. acquired a new position in Applied Industrial Technologies in the fourth quarter worth $25,518,000. Polar Asset Management Partners Inc. bought a new stake in shares of Applied Industrial Technologies during the third quarter worth $12,897,000. Barclays PLC grew its holdings in shares of Applied Industrial Technologies by 156.6% during the third quarter. Barclays PLC now owns 74,109 shares of the industrial products company's stock worth $16,537,000 after purchasing an additional 45,224 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Applied Industrial Technologies by 4.1% in the third quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company's stock valued at $232,181,000 after buying an additional 40,689 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on AIT shares. Raymond James restated an "outperform" rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. KeyCorp lowered their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, March 17th. StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, Robert W. Baird lifted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Two investment 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 has a consensus rating of "Moderate Buy" and a consensus price target of $284.29.

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Applied Industrial Technologies Trading Down 2.9 %

NYSE AIT traded down $6.65 on Friday, reaching $225.57. The company had a trading volume of 274,627 shares, compared to its average volume of 278,401. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98. The stock's 50 day moving average is $246.85 and its 200-day moving average is $245.23. 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 stock has a market cap of $8.66 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced 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 return on equity of 22.37% and a net margin of 8.62%. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The company 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. The ex-dividend date was Friday, February 14th. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.82%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.64%.

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.