Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC raised its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 22.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,315 shares of the industrial products company's stock after buying an additional 16,450 shares during the quarter. TimesSquare Capital Management LLC owned about 0.24% of Applied Industrial Technologies worth $21,867,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in shares of Applied Industrial Technologies in the 4th quarter worth $30,000. First Horizon Advisors Inc. increased its holdings in shares of Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock worth $38,000 after purchasing an additional 88 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth $84,000. Versant Capital Management Inc increased its holdings in shares of 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 purchasing an additional 55 shares in the last quarter. Finally, Values First Advisors Inc. bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth $114,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on AIT shares. 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. Raymond James reaffirmed an "outperform" rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Oppenheimer boosted their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Loop Capital boosted their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a "buy" rating in a report on Monday, October 28th. 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 report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Applied Industrial Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $291.43.

Applied Industrial Technologies Trading Down 6.1 %

NYSE:AIT traded down $16.11 during midday trading on Friday, hitting $247.71. The stock had a trading volume of 181,789 shares, compared to its average volume of 302,015. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 3.40 and a beta of 1.08. The stock has a 50-day moving average of $254.09 and a 200 day moving average of $238.85. 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 earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. As a group, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.87 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.74%. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's dividend payout ratio is currently 18.64%.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was 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 owns 55,709 shares in the company, valued at approximately $15,689,882.76. This represents a 6.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares of the company's stock, valued at $952,326.96. This trade represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is owned by company insiders.

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.