Great West Life Assurance Co. Can Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Great West Life Assurance Co. Can purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AITGet Rating) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 46,790 shares of the industrial products company’s stock, valued at approximately $4,805,000.

A number of other large investors have also made changes to their positions in AIT. Wipfli Financial Advisors LLC purchased a new position in Applied Industrial Technologies during the 3rd quarter valued at about $31,000. Pinebridge Investments L.P. boosted its stake in shares of Applied Industrial Technologies by 452.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 552 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 452 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Applied Industrial Technologies by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 735 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 544 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth about $98,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Applied Industrial Technologies in the third quarter worth approximately $154,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Analysts Set New Price Targets

AIT has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Applied Industrial Technologies in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. KeyCorp raised their target price on shares of Applied Industrial Technologies from $130.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th.

Applied Industrial Technologies Trading Up 1.4 %

NYSE AIT opened at $122.29 on Friday. Applied Industrial Technologies, Inc. has a one year low of $88.09 and a one year high of $133.74. The company’s 50 day moving average price is $126.61 and its 200 day moving average price is $114.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.00 and a current ratio of 3.08. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 16.98 and a beta of 1.18.

Applied Industrial Technologies (NYSE:AITGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The industrial products company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.64 by $0.33. Applied Industrial Technologies had a net margin of 7.07% and a return on equity of 25.06%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $988.51 million. During the same quarter last year, the firm posted $1.36 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, sell-side analysts predict that Applied Industrial Technologies, Inc. will post 7.52 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th were paid a dividend of $0.34 per share. The ex-dividend date was Monday, November 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.11%. Applied Industrial Technologies’s dividend payout ratio is currently 18.89%.

Applied Industrial Technologies Profile

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Applied Industrial Technologies, Inc engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution, and Fluid Power & Flow Control Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers.

See Also

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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