Fox Hill Wealth Management Makes New $367,000 Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

Fox Hill Wealth Management bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,857 shares of the industrial products company’s stock, valued at approximately $367,000.

A number of other institutional investors have also made changes to their positions in the business. Hennessy Advisors Inc. increased its holdings in shares of Applied Industrial Technologies by 18.3% in the first quarter. Hennessy Advisors Inc. now owns 185,300 shares of the industrial products company’s stock worth $36,606,000 after acquiring an additional 28,700 shares in the last quarter. Ausbil Investment Management Ltd raised its position in Applied Industrial Technologies by 15.2% in the 1st quarter. Ausbil Investment Management Ltd now owns 15,135 shares of the industrial products company’s stock valued at $2,957,000 after buying an additional 1,997 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies in the first quarter valued at approximately $365,000. Banque Cantonale Vaudoise bought a new stake in Applied Industrial Technologies during the 1st quarter worth about $902,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth about $494,000. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Stock Performance

Shares of AIT traded up $1.04 during mid-day trading on Friday, reaching $194.00. The company’s stock had a trading volume of 441,029 shares, compared to its average volume of 252,121. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies, Inc. has a 1-year low of $138.38 and a 1-year high of $201.76. The business has a 50-day simple moving average of $190.50 and a two-hundred day simple moving average of $185.44. The stock has a market cap of $7.49 billion, a P/E ratio of 20.34, a PEG ratio of 2.02 and a beta of 1.08.

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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.38 earnings per share. As a group, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, August 15th. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. KeyCorp raised their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer initiated coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Buy” and a consensus target price of $201.00.

Insider Activity

In related news, VP Jason W. Vasquez sold 650 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $196.71, for a total transaction of $127,861.50. Following the completion of the sale, the vice president now directly owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.20% of the stock is owned by company insiders.

Applied Industrial Technologies 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.