Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Dundas Partners LLP

Dundas Partners LLP increased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 17.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,039 shares of the industrial products company’s stock after buying an additional 306 shares during the quarter. Dundas Partners LLP’s holdings in Applied Industrial Technologies were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Arizona State Retirement System boosted its holdings in shares of Applied Industrial Technologies by 0.4% in the 4th quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company’s stock valued at $2,672,000 after acquiring an additional 40 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Applied Industrial Technologies by 25.3% in the fourth 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 during the last quarter. Versant Capital Management Inc raised its stake in shares of Applied Industrial Technologies by 16.8% during the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after buying an additional 55 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Applied Industrial Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,206 shares of the industrial products company’s stock valued at $289,000 after acquiring an additional 64 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in shares of Applied Industrial Technologies by 3.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AIT shares. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. KeyCorp increased their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Raymond James reissued an “outperform” rating and set a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Finally, Oppenheimer raised their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average price target of $291.43.

Applied Industrial Technologies Trading Up 0.4 %

Shares of Applied Industrial Technologies stock opened at $229.89 on Friday. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week high of $282.98. The business has a fifty day simple moving average of $252.57 and a 200-day simple moving average of $242.45.

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

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.80%. This is a positive change 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 (DPR) is currently 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.