1,238 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Acquired by Intrust Bank NA

Intrust Bank NA bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,238 shares of the industrial products company’s stock, valued at approximately $296,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIT. Townsquare Capital LLC bought a new stake in Applied Industrial Technologies during the 3rd quarter worth $226,000. Glenmede Trust Co. NA grew its holdings in shares of Applied Industrial Technologies by 11.4% during the third quarter. Glenmede Trust Co. NA now owns 3,928 shares of the industrial products company’s stock worth $876,000 after purchasing an additional 403 shares during the last quarter. Walleye Capital LLC increased its stake in shares of Applied Industrial Technologies by 16.4% in the third quarter. Walleye Capital LLC now owns 1,996 shares of the industrial products company’s stock valued at $445,000 after buying an additional 281 shares during the period. Captrust Financial Advisors acquired a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $227,000. Finally, Paloma Partners Management Co bought a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $335,000. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. 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 research report on Monday, March 17th. Robert W. Baird raised their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and set a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Finally, StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $284.29.

Applied Industrial Technologies Stock Down 2.9 %

Shares of Applied Industrial Technologies stock opened at $225.57 on Monday. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 3.14 and a beta of 1.08. The stock’s 50-day moving average is $246.85 and its 200 day moving average is $245.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98.

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, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.82%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s dividend payout ratio is currently 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.