Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Premier Fund Managers Ltd

Premier Fund Managers Ltd trimmed its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 17.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,840 shares of the industrial products company’s stock after selling 5,200 shares during the quarter. Premier Fund Managers Ltd owned approximately 0.06% of Applied Industrial Technologies worth $5,694,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC increased its holdings in shares of Applied Industrial Technologies by 5,900.0% in the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 118 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Applied Industrial Technologies in the fourth quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in Applied Industrial Technologies during the fourth quarter valued at about $44,000. Parkside Financial Bank & Trust increased its holdings in Applied Industrial Technologies by 25.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at $84,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AIT shares. Robert W. Baird lifted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. KeyCorp decreased their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Raymond James reaffirmed an “outperform” rating and issued a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.29.

Applied Industrial Technologies Stock Down 0.0 %

Shares of AIT opened at $232.79 on Friday. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The firm has a 50 day simple moving average of $247.48 and a two-hundred day simple moving average of $244.70. The company has a market cap of $8.93 billion, a P/E ratio of 23.59, a P/E/G ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. Research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.46 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. This represents a $1.84 annualized dividend and a yield of 0.79%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.64%.

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.