Wilkinson Global Asset Management LLC purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,840 shares of the industrial products company's stock, valued at approximately $1,159,000.
Other institutional investors have also bought and sold shares of the company. GHP Investment Advisors Inc. raised its position in shares of Applied Industrial Technologies by 3.9% during the third quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company's stock worth $255,000 after acquiring an additional 43 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Applied Industrial Technologies by 16.8% during the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock worth $91,000 after acquiring an additional 55 shares during the last quarter. CIBC Asset Management Inc increased its holdings in 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 valued at $289,000 after purchasing an additional 64 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in Applied Industrial Technologies by 3.7% in the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 68 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in Applied Industrial Technologies by 7.1% in the third quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.
Insider Transactions at Applied Industrial Technologies
In other news, VP Warren E. Hoffner III sold 4,000 shares of the company's stock in a transaction dated 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 transaction, the vice president now directly owns 55,709 shares of the company's stock, valued at $15,689,882.76. This represents a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total value of $605,176.00. Following the transaction, the director now directly owns 3,462 shares of the company's stock, valued at $952,326.96. This trade represents a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is owned by insiders.
Applied Industrial Technologies Stock Down 6.9 %
Shares of AIT stock traded down $18.09 on Friday, hitting $245.73. 385,458 shares of the stock were exchanged, compared to its average volume of 308,272. 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 firm has a market capitalization of $9.43 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.40 and a beta of 1.08. The business has a 50-day moving average of $254.09 and a 200 day moving average of $238.85. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week high of $282.98.
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 for the quarter, topping 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%. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.87 EPS for the current year.
Applied Industrial Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.46 per share. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, February 14th. Applied Industrial Technologies's dividend payout ratio is currently 18.64%.
Analyst Ratings Changes
A number of research firms recently commented on AIT. Loop Capital upped their price objective on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a "buy" rating in a report on Monday, October 28th. StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Bank of America raised Applied Industrial Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the company from $285.00 to $315.00 in a research note on Tuesday, November 26th. Robert W. Baird boosted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Raymond James reissued an "outperform" rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $291.43.
Get Our Latest Report on AIT
Applied Industrial Technologies Profile
(
Free Report)
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.
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