DF Dent & Co. Inc. Makes New $5.73 Million Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

DF Dent & Co. Inc. purchased a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 23,946 shares of the industrial products company's stock, valued at approximately $5,734,000. DF Dent & Co. Inc. owned approximately 0.06% of Applied Industrial Technologies at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AIT. Arizona State Retirement System increased its position in Applied Industrial Technologies by 0.4% in the fourth quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company's stock worth $2,672,000 after purchasing an additional 40 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Applied Industrial Technologies by 25.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock worth $49,000 after buying an additional 41 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in shares of Applied Industrial Technologies by 4.1% in the 4th quarter. OneAscent Financial Services LLC now owns 1,038 shares of the industrial products company's stock worth $249,000 after buying an additional 41 shares during the last quarter. Huntington National Bank raised its position in shares of Applied Industrial Technologies by 33.8% during 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, Versant Capital Management Inc lifted its holdings in shares of Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock valued at $91,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

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Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT traded up $3.96 during trading on Tuesday, hitting $212.23. The stock had a trading volume of 144,238 shares, compared to its average volume of 282,363. Applied Industrial Technologies, Inc. has a 12-month low of $177.68 and a 12-month high of $282.98. The stock has a 50-day simple moving average of $242.30 and a two-hundred day simple moving average of $246.00. 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 capitalization of $8.14 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 3.14 and a beta of 1.01.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating 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 expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change 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 0.87%. Applied Industrial Technologies's payout ratio is currently 18.64%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIT. Robert W. Baird boosted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. KeyCorp lowered their target price 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 lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, Raymond James reissued an "outperform" rating and set a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.