EAM Investors LLC Invests $5.69 Million in Applied Industrial Technologies, Inc. (NYSE:AIT)

EAM Investors LLC bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 23,746 shares of the industrial products company's stock, valued at approximately $5,686,000. Applied Industrial Technologies makes up 0.8% of EAM Investors LLC's portfolio, making the stock its 15th biggest holding. EAM Investors LLC owned approximately 0.06% of Applied Industrial Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arizona State Retirement System increased its stake in Applied Industrial Technologies by 0.4% in the 4th 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 period. Parkside Financial Bank & Trust increased its stake in shares of Applied Industrial Technologies by 25.3% in the fourth 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 during the period. OneAscent Financial Services LLC boosted its position in Applied Industrial Technologies by 4.1% during the 4th quarter. OneAscent Financial Services LLC now owns 1,038 shares of the industrial products company's stock valued at $249,000 after buying an additional 41 shares during the period. Huntington National Bank grew its holdings 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 worth $45,000 after acquiring an additional 47 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Applied Industrial Technologies by 16.8% during the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock valued at $91,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

Analysts Set New Price Targets

AIT has been the topic of a number of recent analyst reports. Loop Capital cut their price target on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday. Raymond James reissued an "outperform" rating and set a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Robert W. Baird upped their price objective 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. StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, KeyCorp dropped their price objective on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $287.14.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT traded up $6.44 during mid-day trading on Friday, reaching $221.94. 489,566 shares of the company traded hands, compared to its average volume of 290,853. The company's 50 day moving average price is $233.63 and its 200-day moving average price is $245.45. The firm has a market cap of $8.52 billion, a PE ratio of 22.49, a PEG ratio of 3.14 and a beta of 1.01. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55.

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

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.83%. 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 presently 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.