Advisor Resource Council Takes $813,000 Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Advisor Resource Council acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AITFree Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,707 shares of the industrial products company’s stock, valued at approximately $813,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Fox Run Management L.L.C. bought a new stake in shares of Applied Industrial Technologies during the third quarter valued at approximately $336,000. Measured Wealth Private Client Group LLC grew its position in Applied Industrial Technologies by 7.0% in the third quarter. Measured Wealth Private Client Group LLC now owns 4,707 shares of the industrial products company’s stock valued at $728,000 after acquiring an additional 307 shares during the period. Los Angeles Capital Management LLC grew its position in Applied Industrial Technologies by 0.9% in the third quarter. Los Angeles Capital Management LLC now owns 39,547 shares of the industrial products company’s stock valued at $6,114,000 after acquiring an additional 364 shares during the period. Illinois Municipal Retirement Fund grew its position in Applied Industrial Technologies by 494.2% in the third quarter. Illinois Municipal Retirement Fund now owns 26,013 shares of the industrial products company’s stock valued at $4,022,000 after acquiring an additional 21,635 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Applied Industrial Technologies by 96.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 425,295 shares of the industrial products company’s stock valued at $65,755,000 after acquiring an additional 208,315 shares during the period. 92.49% of the stock is currently owned by institutional investors.

Insider Activity at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 2,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $182.34, for a total value of $364,680.00. Following the completion of the sale, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on Applied Industrial Technologies

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $197.25 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74. The firm has a market cap of $7.63 billion, a P/E ratio of 20.70 and a beta of 1.08. The business’s fifty day moving average is $184.19 and its two-hundred day moving average is $169.46. Applied Industrial Technologies, Inc. has a 52 week low of $122.24 and a 52 week high of $201.76.

Applied Industrial Technologies (NYSE:AITGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.13. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.42 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, February 14th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.35. Applied Industrial Technologies’s dividend payout ratio is currently 15.53%.

Applied Industrial Technologies Profile

(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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