Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC increased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,930 shares of the industrial products company's stock after acquiring an additional 3,306 shares during the period. NEOS Investment Management LLC owned approximately 0.09% of Applied Industrial Technologies worth $8,125,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC grew its position in Applied Industrial Technologies by 156.6% during the third quarter. Barclays PLC now owns 74,109 shares of the industrial products company's stock valued at $16,537,000 after acquiring an additional 45,224 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $44,000. Nordea Investment Management AB increased its position in Applied Industrial Technologies by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company's stock worth $48,540,000 after purchasing an additional 9,667 shares in the last quarter. Mountain Pacific Investment Advisers LLC raised its holdings in Applied Industrial Technologies by 36.6% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 46,155 shares of the industrial products company's stock valued at $11,053,000 after buying an additional 12,364 shares during the period. Finally, Franklin Resources Inc. lifted its position in Applied Industrial Technologies by 14.3% during the third quarter. Franklin Resources Inc. now owns 233,655 shares of the industrial products company's stock valued at $53,238,000 after buying an additional 29,288 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

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Applied Industrial Technologies Stock Performance

AIT stock traded down $2.82 during trading on Monday, hitting $222.71. 121,782 shares of the company's stock traded hands, compared to its average volume of 327,585. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98. The stock has a fifty day moving average price of $246.85 and a two-hundred day moving average price of $245.57. 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 issued its 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 8.62% and a return on equity of 22.37%. As a group, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently announced 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 a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. This represents a $1.84 annualized dividend and a yield of 0.83%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.64%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James reissued an "outperform" rating and issued a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. StockNews.com lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. KeyCorp dropped their price target on shares of 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. Finally, Robert W. Baird lifted 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. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $284.29.

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.