Fmr LLC Trims Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

FMR LLC decreased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 7.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,944,143 shares of the industrial products company's stock after selling 155,499 shares during the period. FMR LLC owned 5.06% of Applied Industrial Technologies worth $433,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AIT. GHP Investment Advisors Inc. grew its holdings in Applied Industrial Technologies by 3.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company's stock worth $255,000 after acquiring an additional 43 shares during the period. QRG Capital Management Inc. grew its stake in Applied Industrial Technologies by 0.9% during the second quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company's stock worth $1,254,000 after purchasing an additional 55 shares during the period. Miller Howard Investments Inc. NY increased its holdings in Applied Industrial Technologies by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company's stock worth $446,000 after purchasing an additional 55 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Applied Industrial Technologies by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company's stock valued at $3,374,000 after buying an additional 61 shares during the period. Finally, Dana Investment Advisors Inc. boosted its holdings in shares of Applied Industrial Technologies by 0.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company's stock worth $1,928,000 after buying an additional 65 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AIT shares. Loop Capital boosted their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, October 28th. StockNews.com raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Oppenheimer raised their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Raymond James upped their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, KeyCorp raised their price objective on Applied Industrial Technologies from $245.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $278.57.

Applied Industrial Technologies Stock Up 0.3 %

Applied Industrial Technologies stock traded up $0.82 during midday trading on Friday, hitting $274.72. 205,258 shares of the stock were exchanged, compared to its average volume of 286,128. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 3.76 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 52-week low of $156.50 and a 52-week high of $282.98. The business's 50-day moving average price is $243.16 and its 200-day moving average price is $213.93.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.11. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. Applied Industrial Technologies's quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $2.39 earnings per share. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Friday, November 15th. Applied Industrial Technologies's dividend payout ratio is currently 15.10%.

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.