Lindenwold Advisors INC Sells 90 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Lindenwold Advisors INC cut its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,431 shares of the industrial products company’s stock after selling 90 shares during the quarter. Lindenwold Advisors INC’s holdings in Applied Industrial Technologies were worth $582,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in 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 worth $29,000 after acquiring an additional 118 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Applied Industrial Technologies in the 4th quarter valued at $30,000. First Horizon Advisors Inc. boosted its stake in shares of Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Applied Industrial Technologies during the 4th quarter valued at $44,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Applied Industrial Technologies by 25.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 41 shares during the period. 93.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on AIT. Raymond James reiterated an “outperform” rating and set a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. KeyCorp lowered their price objective on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.29.

Applied Industrial Technologies Price Performance

AIT opened at $224.48 on Wednesday. The firm has a market cap of $8.62 billion, a P/E ratio of 22.74, a PEG ratio of 3.14 and a beta of 1.08. The firm has a 50-day moving average of $250.09 and a 200 day moving average of $243.71. 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 fifty-two week low of $177.68 and a fifty-two week high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share 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%. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is presently 18.64%.

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.