Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by Harfst & Associates Inc.

Harfst & Associates Inc. boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 37.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,635 shares of the industrial products company's stock after acquiring an additional 3,731 shares during the quarter. Applied Industrial Technologies accounts for 0.7% of Harfst & Associates Inc.'s portfolio, making the stock its 21st largest position. Harfst & Associates Inc.'s holdings in Applied Industrial Technologies were worth $3,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates increased its stake in shares of Applied Industrial Technologies by 19.4% in the third quarter. Raymond James & Associates now owns 14,612 shares of the industrial products company's stock valued at $3,260,000 after buying an additional 2,371 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Applied Industrial Technologies by 7.1% during the third quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company's stock worth $248,000 after buying an additional 74 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at about $217,000. State of Alaska Department of Revenue lifted its holdings in shares of Applied Industrial Technologies by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,495 shares of the industrial products company's stock valued at $1,002,000 after purchasing an additional 300 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Applied Industrial Technologies by 1.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 9,933 shares of the industrial products company's stock valued at $2,216,000 after purchasing an additional 175 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT traded up $6.11 during midday trading on Friday, hitting $250.79. 294,109 shares of the stock traded hands, compared to its average volume of 303,416. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. The firm has a market capitalization of $9.62 billion, a P/E ratio of 25.41, a PEG ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98. The firm has a 50-day moving average of $253.61 and a two-hundred day moving average of $241.31.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results 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 return on equity of 22.37% and a net margin of 8.62%. On average, equities analysts forecast 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. Stockholders of record on Friday, February 14th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase 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 0.73%. Applied Industrial Technologies's dividend payout ratio is presently 18.64%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AIT shares. Robert W. Baird lifted 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. Raymond James restated an "outperform" rating and issued a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. KeyCorp upped their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Finally, Bank of America upgraded Applied Industrial Technologies from a "neutral" rating to a "buy" rating and raised their target price for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $291.43.

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.