Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 4.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,676 shares of the industrial products company’s stock after buying an additional 1,691 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Applied Industrial Technologies were worth $7,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meritage Portfolio Management grew its holdings in shares of Applied Industrial Technologies by 2.0% during the fourth 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. Allspring Global Investments Holdings LLC grew its stake in Applied Industrial Technologies by 19.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company’s stock valued at $87,879,000 after purchasing an additional 83,585 shares in the last quarter. American International Group Inc. grew its stake in Applied Industrial Technologies by 232.6% in the first quarter. American International Group Inc. now owns 69,901 shares of the industrial products company’s stock valued at $13,809,000 after purchasing an additional 48,883 shares in the last quarter. Hennessy Advisors Inc. grew its stake in 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 valued at $36,606,000 after purchasing an additional 28,700 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in Applied Industrial Technologies by 116.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 7,623 shares of the industrial products company’s stock valued at $1,316,000 after purchasing an additional 4,098 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

NYSE AIT opened at $216.86 on Wednesday. Applied Industrial Technologies, Inc. has a twelve month low of $138.38 and a twelve month high of $218.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77. The stock has a market capitalization of $8.37 billion, a PE ratio of 22.73, a P/E/G ratio of 2.13 and a beta of 1.06. The stock has a 50-day simple moving average of $194.82 and a 200 day simple moving average of $190.13.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.68%. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

Analyst Ratings Changes

A number of research analysts have commented on AIT shares. Oppenheimer started coverage on Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price on the stock. KeyCorp upped their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Northcoast Research began coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Insider Buying and Selling

In related news, VP Jason W. Vasquez sold 650 shares of the business’s stock in a transaction dated 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 transaction, the vice president now 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 Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by insiders.

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.