Homestead Advisers Corp Decreases Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Homestead Advisers Corp decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,626 shares of the industrial products company's stock after selling 7,900 shares during the quarter. Homestead Advisers Corp owned 0.09% of Applied Industrial Technologies worth $8,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Arizona State Retirement System grew its holdings 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 valued at $2,672,000 after purchasing an additional 40 shares during the last quarter. Parkside Financial Bank & Trust increased 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 in the last quarter. Versant Capital Management Inc raised its position in 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 worth $91,000 after acquiring an additional 55 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Applied Industrial Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,206 shares of the industrial products company's stock valued at $289,000 after purchasing an additional 64 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Applied Industrial Technologies by 3.7% in the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

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Analyst Ratings Changes

AIT has been the subject of several research reports. KeyCorp cut their price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Raymond James restated an "outperform" rating and issued a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. 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 raised their price target on shares of 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $284.29.

Applied Industrial Technologies Trading Down 0.9 %

Shares of AIT traded down $1.97 during mid-day trading on Monday, hitting $223.57. The company had a trading volume of 131,598 shares, compared to its average volume of 327,709. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98. The business's 50-day simple moving average is $246.85 and its 200-day simple moving average is $245.57. The stock has a market cap of $8.58 billion, a PE ratio of 22.65, a P/E/G ratio of 3.14 and a beta of 1.08. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data 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 return on equity of 22.37% and a net margin of 8.62%. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.46 per share. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies's payout ratio is currently 18.64%.

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.