28,257 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,257 shares of the industrial products company's stock, valued at approximately $6,767,000. Proficio Capital Partners LLC owned approximately 0.07% of Applied Industrial Technologies at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AIT. State Street Corp raised its stake in Applied Industrial Technologies by 2.4% in the third quarter. State Street Corp now owns 1,441,051 shares of the industrial products company's stock valued at $321,542,000 after buying an additional 34,113 shares in the last quarter. Geode Capital Management LLC raised its stake in Applied Industrial Technologies by 4.1% in the third quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company's stock valued at $232,181,000 after buying an additional 40,689 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Applied Industrial Technologies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,317 shares of the industrial products company's stock valued at $127,032,000 after buying an additional 3,887 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Applied Industrial Technologies in the third quarter valued at $84,139,000. Finally, Bank of New York Mellon Corp raised its stake in Applied Industrial Technologies by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 366,217 shares of the industrial products company's stock valued at $87,698,000 after buying an additional 11,529 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

NYSE AIT traded up $1.29 during mid-day trading on Wednesday, hitting $231.15. The stock had a trading volume of 208,629 shares, compared to its average volume of 307,558. The company has a 50 day simple moving average of $253.32 and a 200 day simple moving average of $242.09. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 23.41, a P/E/G 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.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results 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%. Equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.80%. 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 presently 18.64%.

Analyst Ratings Changes

AIT has been the topic of a number of analyst reports. KeyCorp raised their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Raymond James reiterated an "outperform" rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Oppenheimer raised their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Bank of America raised shares of Applied Industrial Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Finally, StockNews.com cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $291.43.

Applied Industrial Technologies 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.