Bessemer Group Inc. Increases Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Bessemer Group Inc. boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,841 shares of the industrial products company's stock after purchasing an additional 5,638 shares during the period. Bessemer Group Inc. owned about 0.40% of Applied Industrial Technologies worth $36,360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in 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 during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 4th quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new position in Applied Industrial Technologies in the 4th quarter worth approximately $44,000. Huntington National Bank grew its stake in Applied Industrial Technologies by 33.8% in the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock valued at $45,000 after buying an additional 47 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Applied Industrial Technologies by 25.3% during the 4th 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 period. Institutional investors own 93.52% of the company's stock.

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Analyst Ratings Changes

A number of research firms recently weighed in on AIT. Raymond James reaffirmed an "outperform" rating and set a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. KeyCorp lowered their price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. StockNews.com cut Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird upped their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $284.29.

Applied Industrial Technologies Price Performance

Shares of AIT stock traded up $1.92 during trading hours on Tuesday, hitting $228.28. 77,634 shares of the company's stock were exchanged, compared to its average volume of 287,596. The company has a market capitalization of $8.76 billion, a PE ratio of 23.13, a PEG ratio of 3.14 and a beta of 1.01. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. Applied Industrial Technologies, Inc. has a 12-month low of $177.68 and a 12-month high of $282.98. The business's 50 day simple moving average is $237.04 and its 200-day simple moving average is $245.81.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 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%. On average, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.46 per share. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.81%. Applied Industrial Technologies's dividend payout ratio is 18.64%.

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.