Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. reduced its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,000 shares of the industrial products company’s stock after selling 700 shares during the quarter. Everence Capital Management Inc.’s holdings in Applied Industrial Technologies were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC purchased a new stake in Applied Industrial Technologies in the 4th quarter worth $25,000. Huntington National Bank increased its holdings in Applied Industrial Technologies by 963.2% in the 3rd quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 183 shares in the last quarter. Point72 Middle East FZE purchased a new stake in Applied Industrial Technologies in the 4th quarter worth $28,000. State of Wyoming purchased a new stake in Applied Industrial Technologies in the 4th quarter worth $29,000. Finally, NBC Securities Inc. purchased a new stake in Applied Industrial Technologies in the 3rd quarter worth $40,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $187.88 on Wednesday. Applied Industrial Technologies, Inc. has a 52-week low of $122.24 and a 52-week high of $201.76. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.00 and a beta of 1.08. The company has a fifty day simple moving average of $190.30 and a 200-day simple moving average of $174.17. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a dividend of $0.37 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, February 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.79%. Applied Industrial Technologies’s payout ratio is presently 15.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AIT. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Oppenheimer began coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Buy” and a consensus price target of $201.00.

Insider Activity

In other news, VP Warren E. Hoffner III sold 2,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the transaction, the vice president now owns 57,155 shares of the company’s stock, valued at approximately $10,421,642.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

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.