Dimensional Fund Advisors LP Grows Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Dimensional Fund Advisors LP raised its stake in Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 913,725 shares of the industrial products company’s stock after buying an additional 1,257 shares during the period. Dimensional Fund Advisors LP’s holdings in Applied Industrial Technologies were worth $115,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Applied Industrial Technologies by 7.0% in the 1st quarter. BlackRock Inc. now owns 7,001,286 shares of the industrial products company’s stock valued at $718,751,000 after buying an additional 459,302 shares during the period. Vanguard Group Inc. lifted its position in shares of Applied Industrial Technologies by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,863,708 shares of the industrial products company’s stock worth $499,893,000 after purchasing an additional 136,174 shares during the period. State Street Corp lifted its position in shares of Applied Industrial Technologies by 0.7% in the 3rd quarter. State Street Corp now owns 1,383,105 shares of the industrial products company’s stock worth $142,156,000 after purchasing an additional 10,144 shares during the period. Macquarie Group Ltd. lifted its position in shares of Applied Industrial Technologies by 1.6% in the 3rd quarter. Macquarie Group Ltd. now owns 900,360 shares of the industrial products company’s stock worth $92,601,000 after purchasing an additional 13,748 shares during the period. Finally, Palisade Capital Management LLC NJ lifted its position in shares of Applied Industrial Technologies by 0.3% in the 3rd quarter. Palisade Capital Management LLC NJ now owns 642,756 shares of the industrial products company’s stock worth $66,062,000 after purchasing an additional 2,135 shares during the period. 92.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AIT. StockNews.com started coverage on shares of Applied Industrial Technologies in a research note on Thursday. They set a “buy” rating for the company. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $138.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, January 27th. Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $160.00 to $161.00 in a report on Friday, April 28th. Finally, Loop Capital increased their target price on shares of Applied Industrial Technologies from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, January 27th.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 21,526 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $145.06, for a total value of $3,122,561.56. Following the completion of the transaction, the chief executive officer now owns 318,218 shares of the company’s stock, valued at $46,160,703.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Neil A. Schrimsher sold 4,186 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $145.00, for a total value of $606,970.00. Following the completion of the transaction, the chief executive officer now owns 339,744 shares in the company, valued at $49,262,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil A. Schrimsher sold 21,526 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $145.06, for a total transaction of $3,122,561.56. Following the sale, the chief executive officer now owns 318,218 shares of the company’s stock, valued at approximately $46,160,703.08. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $129.17 on Friday. Applied Industrial Technologies, Inc. has a 1-year low of $88.09 and a 1-year high of $149.42. The stock has a market cap of $4.99 billion, a PE ratio of 15.18 and a beta of 1.19. The firm has a 50-day simple moving average of $133.63 and a two-hundred day simple moving average of $132.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.14 and a quick ratio of 2.04.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, May 12th. Applied Industrial Technologies’s dividend payout ratio is presently 16.45%.

About Applied Industrial Technologies

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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.