XTX Topco Ltd Makes New $409,000 Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

XTX Topco Ltd acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,707 shares of the industrial products company's stock, valued at approximately $409,000.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in Applied Industrial Technologies by 5,900.0% during the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock valued at $29,000 after buying an additional 118 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in Applied Industrial Technologies during the 4th quarter worth about $44,000. Huntington National Bank raised its stake in Applied Industrial Technologies by 33.8% in the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 47 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Applied Industrial Technologies by 25.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Down 0.2 %

Shares of AIT stock traded down $0.52 during trading hours on Friday, reaching $238.61. The company had a trading volume of 291,401 shares, compared to its average volume of 292,031. The stock's fifty day simple moving average is $230.05 and its 200 day simple moving average is $245.71. The company has a market capitalization of $9.16 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. Applied Industrial Technologies, Inc. has a twelve month low of $177.77 and a twelve month high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 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, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.46 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.77%. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's payout ratio is presently 18.64%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AIT. KeyCorp cut their price objective on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Robert W. Baird upped 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. Loop Capital decreased their price target on Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Raymond James reaffirmed an "outperform" rating and set a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $287.14.

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.