Intech Investment Management LLC Has $4.24 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Intech Investment Management LLC grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 122.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,696 shares of the industrial products company's stock after purchasing an additional 9,737 shares during the period. Intech Investment Management LLC's holdings in Applied Industrial Technologies were worth $4,238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AIT. Larson Financial Group LLC grew its position in Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock valued at $29,000 after buying an additional 118 shares during the period. Kestra Investment Management LLC purchased a new stake in Applied Industrial Technologies during the 4th quarter valued at about $30,000. First Horizon Advisors Inc. grew its holdings in Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock valued at $38,000 after buying an additional 88 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $44,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Applied Industrial Technologies by 25.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock valued at $49,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently commented on AIT shares. 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. KeyCorp decreased their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Raymond James restated an "outperform" rating and set a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of "Moderate Buy" and an average target price of $284.29.

Applied Industrial Technologies Stock Down 1.6 %

Shares of NYSE AIT traded down $3.63 during mid-day trading on Friday, reaching $224.83. The company had a trading volume of 1,094,007 shares, compared to its average volume of 262,026. 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 stock has a market capitalization of $8.63 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve month high of $282.98. The stock's 50 day moving average is $248.92 and its 200-day moving average is $243.96.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. As a group, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share 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 was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's dividend payout ratio (DPR) 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.