Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $4 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its position in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 40.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,842 shares of the industrial products company’s stock after selling 17,851 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.07% of Applied Industrial Technologies worth $3,995,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. FinTrust Capital Advisors LLC purchased a new position in shares of Applied Industrial Technologies in the 4th quarter worth about $25,000. Point72 Middle East FZE purchased a new stake in shares of Applied Industrial Technologies in the 4th quarter worth approximately $28,000. State of Wyoming purchased a new stake in shares of Applied Industrial Technologies in the 4th quarter worth approximately $29,000. Huntington National Bank grew its stake in shares of Applied Industrial Technologies by 963.2% in the 3rd quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock worth $31,000 after buying an additional 183 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in Applied Industrial Technologies during the 3rd quarter valued at $40,000. 92.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, KeyCorp increased their price target on Applied Industrial Technologies from $182.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 26th.

View Our Latest Report on Applied Industrial Technologies

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $187.93 on Monday. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $172.85 and its two-hundred day simple moving average is $161.38. The stock has a market cap of $7.27 billion, a PE ratio of 19.72 and a beta of 1.07. Applied Industrial Technologies, Inc. has a 52 week low of $122.24 and a 52 week high of $188.49.

Applied Industrial Technologies (NYSE:AITGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.13. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share. As a group, analysts forecast that Applied Industrial Technologies, Inc. will post 9.59 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.48 annualized dividend and a yield of 0.79%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.35. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 14.69%.

Insiders Place Their Bets

In related news, Director Peter C. Wallace sold 1,130 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $163.19, for a total value of $184,404.70. Following the completion of the sale, the director now directly owns 23,641 shares of the company’s stock, valued at $3,857,974.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Kurt W. Loring sold 5,470 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $164.50, for a total transaction of $899,815.00. Following the completion of the sale, the vice president now owns 21,269 shares in the company, valued at approximately $3,498,750.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter C. Wallace sold 1,130 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $163.19, for a total value of $184,404.70. Following the sale, the director now owns 23,641 shares of the company’s stock, valued at approximately $3,857,974.79. The disclosure for this sale can be found here. Insiders sold a total of 10,584 shares of company stock valued at $1,772,312 over the last 90 days. Insiders own 2.00% of the company’s stock.

About Applied Industrial Technologies

(Free Report)

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.

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

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