NEOS Investment Management LLC Acquires 3,306 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

NEOS Investment Management LLC lifted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,930 shares of the industrial products company’s stock after purchasing an additional 3,306 shares during the quarter. NEOS Investment Management LLC owned 0.09% of Applied Industrial Technologies worth $8,125,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AIT. Larson Financial Group LLC raised 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 buying an additional 118 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $44,000. Parkside Financial Bank & Trust lifted its position 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 acquiring an additional 41 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in Applied Industrial Technologies in the 3rd quarter worth $84,000. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $233.16 on Thursday. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $247.93 and a 200 day simple moving average of $244.79. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98. The stock has a market capitalization of $8.95 billion, a PE ratio of 23.62, a P/E/G ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data 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 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 fiscal year.

Applied Industrial Technologies Increases Dividend

The firm 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 of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a yield of 0.79%. Applied Industrial Technologies’s dividend payout ratio is currently 18.64%.

Analysts Set New Price Targets

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

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.