Fox Run Management L.L.C. Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Fox Run Management L.L.C. bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,862 shares of the industrial products company’s stock, valued at approximately $925,000.

Other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in Applied Industrial Technologies by 139.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 32,179 shares of the industrial products company’s stock valued at $7,180,000 after purchasing an additional 18,752 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in Applied Industrial Technologies by 1.7% during the 3rd quarter. Pathstone Holdings LLC now owns 11,069 shares of the industrial products company’s stock valued at $2,470,000 after purchasing an additional 190 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Applied Industrial Technologies by 3.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,533 shares of the industrial products company’s stock valued at $3,243,000 after purchasing an additional 436 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Applied Industrial Technologies by 14.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,704 shares of the industrial products company’s stock valued at $3,058,000 after purchasing an additional 1,706 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Applied Industrial Technologies by 106.0% during 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. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Down 1.6 %

AIT opened at $224.83 on Friday. 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 company has a market cap of $8.63 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The firm has a 50 day simple moving average of $248.92 and a 200 day simple moving average of $243.96. 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 posted its quarterly 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, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.46 per share. 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 was Friday, February 14th. Applied Industrial Technologies’s payout ratio is 18.64%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Raymond James reissued an “outperform” rating and set a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Bank of America raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Finally, KeyCorp dropped their target price on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.29.

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.