1,357 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Acquired by Ibex Wealth Advisors

Ibex Wealth Advisors bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,357 shares of the industrial products company's stock, valued at approximately $325,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Zurich Insurance Group Ltd FI acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $84,139,000. Westfield Capital Management Co. LP acquired a new position in Applied Industrial Technologies during the third quarter worth $32,233,000. Fiera Capital Corp lifted its holdings in Applied Industrial Technologies by 456.3% during the third quarter. Fiera Capital Corp now owns 130,895 shares of the industrial products company's stock valued at $29,207,000 after purchasing an additional 107,365 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $213,590,000. Finally, Eagle Asset Management Inc. purchased a new stake in shares of Applied Industrial Technologies during the third quarter worth about $13,034,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Insider Buying and Selling

In related news, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the sale, the director now owns 3,462 shares in the company, valued at $952,326.96. This represents a 38.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the business's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the transaction, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.67% of the company's stock.

Applied Industrial Technologies Trading Up 3.3 %

Shares of AIT stock traded up $8.28 during mid-day trading on Thursday, hitting $262.74. 90,755 shares of the company's stock were exchanged, compared to its average volume of 330,221. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 3.59 and a beta of 1.08. 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 50-day simple moving average of $257.49 and a two-hundred day simple moving average of $232.96. Applied Industrial Technologies, Inc. has a fifty-two week low of $176.32 and a fifty-two week high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. Equities analysts expect that Applied Industrial Technologies, Inc. will post 9.77 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.46 dividend. 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 0.70%. Applied Industrial Technologies's dividend payout ratio is currently 15.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AIT shares. Oppenheimer lifted their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Loop Capital raised their price objective on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. 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. Mizuho initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 price objective on the stock. Finally, Raymond James reissued an "outperform" rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $291.43.

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.