4,043 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by Schroder Investment Management Group

Schroder Investment Management Group purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,043 shares of the industrial products company's stock, valued at approximately $968,000.

Other hedge funds also recently bought and sold shares of the company. Walleye Capital LLC grew its position in Applied Industrial Technologies by 16.4% during the 3rd quarter. Walleye Capital LLC now owns 1,996 shares of the industrial products company's stock worth $445,000 after acquiring an additional 281 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $227,000. HighTower Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 39.8% during the third quarter. HighTower Advisors LLC now owns 3,950 shares of the industrial products company's stock valued at $882,000 after acquiring an additional 1,124 shares in the last quarter. Stifel Financial Corp increased its stake in Applied Industrial Technologies by 9.2% during the 3rd quarter. Stifel Financial Corp now owns 29,694 shares of the industrial products company's stock valued at $6,626,000 after purchasing an additional 2,513 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of 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 worth $321,542,000 after buying an additional 34,113 shares in the last quarter. Institutional investors own 93.52% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. StockNews.com cut Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. KeyCorp dropped their price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Finally, 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 report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $284.29.

Applied Industrial Technologies Stock Performance

NYSE:AIT traded up $5.72 on Friday, hitting $226.40. The stock had a trading volume of 370,020 shares, compared to its average volume of 287,665. The business's 50-day simple moving average is $237.79 and its two-hundred day simple moving average is $245.62. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 3.14 and a beta of 1.01. Applied Industrial Technologies, Inc. has a 52-week low of $177.68 and a 52-week high of $282.98. 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 posted its quarterly earnings data 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, research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.81%. Applied Industrial Technologies's payout ratio is 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.