Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Invesco Ltd.

Invesco Ltd. raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,271,356 shares of the industrial products company's stock after purchasing an additional 85,270 shares during the quarter. Invesco Ltd. owned 3.31% of Applied Industrial Technologies worth $304,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its holdings in Applied Industrial Technologies by 11.8% in the fourth quarter. Bank of Montreal Can now owns 5,466 shares of the industrial products company's stock valued at $1,309,000 after buying an additional 577 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Applied Industrial Technologies by 47.8% during the 4th quarter. Cerity Partners LLC now owns 2,199 shares of the industrial products company's stock worth $515,000 after purchasing an additional 711 shares during the period. Aristides Capital LLC acquired a new stake in Applied Industrial Technologies in the 4th quarter worth about $297,000. Federated Hermes Inc. grew its holdings in Applied Industrial Technologies by 2.6% in the 4th quarter. Federated Hermes Inc. now owns 250,378 shares of the industrial products company's stock valued at $59,958,000 after buying an additional 6,399 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Applied Industrial Technologies by 1.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 50,281 shares of the industrial products company's stock valued at $12,041,000 after buying an additional 485 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

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Applied Industrial Technologies Stock Down 2.5 %

NYSE AIT traded down $5.70 on Wednesday, reaching $220.45. The company had a trading volume of 97,759 shares, compared to its average volume of 347,071. The firm has a market capitalization of $8.46 billion, a PE ratio of 22.34, a P/E/G ratio of 3.14 and a beta of 1.01. The firm has a 50-day moving average of $236.21 and a 200-day moving average of $245.67. Applied Industrial Technologies, Inc. has a 1 year low of $177.68 and a 1 year high of $282.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (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 research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued 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 annualized dividend and a yield of 0.83%. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies's payout ratio is currently 18.64%.

Wall Street Analyst Weigh In

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

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.