Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP raised its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,067 shares of the industrial products company's stock after buying an additional 5,868 shares during the period. Trexquant Investment LP owned about 0.06% of Applied Industrial Technologies worth $5,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in AIT. Larson Financial Group LLC boosted its holdings in shares of Applied Industrial Technologies by 5,900.0% in the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 118 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies in the 4th quarter worth $30,000. SBI Securities Co. Ltd. bought a new position in shares of Applied Industrial Technologies during the 4th quarter worth $44,000. Parkside Financial Bank & Trust increased its stake in shares of Applied Industrial Technologies by 25.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock valued at $49,000 after buying an additional 41 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $54,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Stock Down 5.2 %

Shares of AIT stock traded down $12.07 during trading hours on Thursday, reaching $219.90. 129,364 shares of the company's stock were exchanged, compared to its average volume of 285,605. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week high of $282.98. The stock's 50 day moving average is $239.22 and its 200-day moving average is $245.59. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 3.14 and a beta of 1.01.

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Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (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%. Analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share 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. Shareholders of record on Friday, February 14th were paid 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 of this dividend was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.84%. Applied Industrial Technologies's dividend payout ratio is presently 18.64%.

Analyst Ratings Changes

AIT has been the topic of a number of research reports. 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 report on Thursday, January 30th. KeyCorp cut their price objective on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Finally, 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 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $284.29.

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.