Seizert Capital Partners LLC Cuts Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Seizert Capital Partners LLC reduced its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,061 shares of the industrial products company's stock after selling 2,506 shares during the period. Seizert Capital Partners LLC owned approximately 0.14% of Applied Industrial Technologies worth $12,946,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust lifted its stake in Applied Industrial Technologies by 25.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 41 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock worth $91,000 after buying an additional 55 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Applied Industrial Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,206 shares of the industrial products company's stock worth $289,000 after acquiring an additional 64 shares during the period. Coldstream Capital Management Inc. grew its holdings in Applied Industrial Technologies by 3.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company's stock valued at $429,000 after buying an additional 68 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Applied Industrial Technologies by 0.4% during the fourth quarter. Amalgamated Bank now owns 17,670 shares of the industrial products company's stock valued at $4,231,000 after acquiring an additional 71 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AIT shares. Raymond James restated an "outperform" rating and set a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. KeyCorp boosted their target price 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. Robert W. Baird increased their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Bank of America raised Applied Industrial Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Finally, Oppenheimer increased their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Applied Industrial Technologies has an average rating of "Moderate Buy" and a consensus target price of $291.43.

Applied Industrial Technologies Stock Down 1.5 %

Shares of NYSE:AIT traded down $3.40 during trading on Thursday, hitting $229.38. The stock had a trading volume of 275,492 shares, compared to its average volume of 312,173. 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, Inc. has a 12 month low of $177.68 and a 12 month high of $282.98. The company has a market capitalization of $8.80 billion, a PE ratio of 23.24, a PEG ratio of 3.14 and a beta of 1.08. The firm's fifty day moving average is $253.10 and its 200 day moving average is $242.03.

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 EPS for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. 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 declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, February 14th. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's payout ratio is currently 18.64%.

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.