Vanguard Group Inc. Sells 2,490 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Vanguard Group Inc. decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,605,417 shares of the industrial products company's stock after selling 2,490 shares during the quarter. Vanguard Group Inc. owned approximately 12.00% of Applied Industrial Technologies worth $1,102,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIT. Larson Financial Group LLC boosted its stake in shares of Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 118 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new position in Applied Industrial Technologies in the 4th quarter valued at approximately $44,000. Parkside Financial Bank & Trust raised its stake in shares of Applied Industrial Technologies by 25.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 41 shares during the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in shares of Applied Industrial Technologies during the third quarter worth $84,000. Institutional investors own 93.52% of the company's stock.

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Applied Industrial Technologies Trading Up 1.4 %

AIT stock traded up $3.24 during mid-day trading on Wednesday, reaching $232.67. The company's stock had a trading volume of 50,952 shares, compared to its average volume of 277,958. Applied Industrial Technologies, Inc. has a 12 month low of $177.68 and a 12 month high of $282.98. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. The business's 50 day moving average price is $245.54 and its 200 day moving average price is $245.92. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate 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, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.46 per share. The ex-dividend date was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.79%. 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%.

Analyst Ratings Changes

AIT has been the subject of several analyst reports. StockNews.com lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Raymond James restated an "outperform" rating and set a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. KeyCorp reduced their target price on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Finally, Robert W. Baird raised their price target on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.