Peregrine Asset Advisers Inc. Buys Shares of 27,789 Applied Industrial Technologies, Inc. (NYSE:AIT)

Peregrine Asset Advisers Inc. purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,789 shares of the industrial products company’s stock, valued at approximately $4,799,000. Applied Industrial Technologies makes up approximately 2.3% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 9th biggest position. Peregrine Asset Advisers Inc. owned 0.07% of Applied Industrial Technologies at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $336,000. Allspring Global Investments Holdings LLC lifted its stake in Applied Industrial Technologies by 19.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company’s stock valued at $87,879,000 after buying an additional 83,585 shares in the last quarter. Meritage Portfolio Management lifted its stake in Applied Industrial Technologies by 2.0% in the 4th quarter. Meritage Portfolio Management now owns 3,638 shares of the industrial products company’s stock valued at $628,000 after buying an additional 73 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Applied Industrial Technologies by 0.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 39,547 shares of the industrial products company’s stock valued at $6,114,000 after buying an additional 364 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in Applied Industrial Technologies by 494.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,013 shares of the industrial products company’s stock valued at $4,022,000 after buying an additional 21,635 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 2.0 %

Shares of AIT stock traded up $3.77 on Monday, reaching $189.75. 443,932 shares of the stock were exchanged, compared to its average volume of 337,979. The stock has a market cap of $7.32 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. The company has a quick ratio of 2.70, a current ratio of 3.77 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $189.54 and a two-hundred day moving average of $176.73. Applied Industrial Technologies, Inc. has a 1-year low of $122.24 and a 1-year high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.38 EPS. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.6 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.78%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.51%.

Analyst Ratings Changes

AIT has been the subject of several analyst reports. Oppenheimer initiated coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target for the company. KeyCorp boosted their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Buy” and an average price target of $201.00.

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.