Rhumbline Advisers Has $29.74 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Rhumbline Advisers increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,195 shares of the industrial products company's stock after buying an additional 1,868 shares during the quarter. Rhumbline Advisers owned 0.32% of Applied Industrial Technologies worth $29,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of AIT. Barclays PLC boosted its position in Applied Industrial Technologies by 156.6% during the 3rd quarter. Barclays PLC now owns 74,109 shares of the industrial products company's stock worth $16,537,000 after acquiring an additional 45,224 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Applied Industrial Technologies in the third quarter worth approximately $32,233,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Applied Industrial Technologies during the third quarter worth approximately $3,591,000. Janney Montgomery Scott LLC grew its position in Applied Industrial Technologies by 126.0% during the third quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company's stock valued at $981,000 after purchasing an additional 2,451 shares in the last quarter. Finally, Raymond James & Associates increased its stake in Applied Industrial Technologies by 19.4% in the 3rd quarter. Raymond James & Associates now owns 14,612 shares of the industrial products company's stock valued at $3,260,000 after buying an additional 2,371 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

Shares of AIT stock traded down $18.09 during trading on Friday, reaching $245.73. The company had a trading volume of 385,458 shares, compared to its average volume of 308,269. The firm's 50 day simple moving average is $254.09 and its two-hundred day simple moving average is $238.85. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one 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. The company has a market capitalization of $9.43 billion, a PE ratio of 24.90, a PEG ratio of 3.40 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, beating 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%. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.87 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.46 per share. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.75%. Applied Industrial Technologies's payout ratio is currently 18.64%.

Insider Buying and Selling at Applied Industrial Technologies

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

Analyst Ratings Changes

A number of brokerages have issued reports on AIT. Raymond James reissued an "outperform" rating and set 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 cut Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. KeyCorp upped their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Oppenheimer raised 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. Finally, Bank of America raised Applied Industrial Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the company from $285.00 to $315.00 in a research note on Tuesday, November 26th. 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, Applied Industrial Technologies presently has an average rating of "Moderate Buy" and an average target price 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.