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

EULAV Asset Management raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,400 shares of the industrial products company’s stock after acquiring an additional 10,100 shares during the period. EULAV Asset Management owned approximately 0.14% of Applied Industrial Technologies worth $13,267,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AIT. State Street Corp boosted its holdings in Applied Industrial Technologies by 2.4% in the third quarter. State Street Corp now owns 1,441,051 shares of the industrial products company’s stock valued at $321,542,000 after purchasing an additional 34,113 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Applied Industrial Technologies by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company’s stock valued at $232,181,000 after buying an additional 40,689 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Applied Industrial Technologies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,317 shares of the industrial products company’s stock worth $127,032,000 after buying an additional 3,887 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Applied Industrial Technologies during the third quarter worth about $84,139,000. Finally, ArrowMark Colorado Holdings LLC raised its position in Applied Industrial Technologies by 9.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,335 shares of the industrial products company’s stock valued at $61,882,000 after acquiring an additional 23,710 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Down 2.0 %

AIT opened at $262.39 on Friday. The company has a market cap of $10.07 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 3.33 and a beta of 1.08. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve month high of $282.98. The company has a 50-day moving average price of $255.93 and a 200 day moving average price of $235.11. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, beating 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%. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.87 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s payout ratio is 14.99%.

Analyst Upgrades and Downgrades

AIT has been the topic of several recent research reports. Raymond James restated an “outperform” rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. KeyCorp raised their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Loop Capital raised their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Mizuho assumed coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $291.43.

Insider Transactions at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the transaction, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76. The trade was a 6.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the sale, the director now directly owns 3,462 shares of the company’s stock, valued at approximately $952,326.96. This represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.67% of the company’s stock.

About Applied Industrial Technologies

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.