State of Alaska Department of Revenue Has $4.12 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

State of Alaska Department of Revenue lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,860 shares of the industrial products company’s stock after selling 207 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Applied Industrial Technologies worth $4,120,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. acquired a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth about $336,000. Measured Wealth Private Client Group LLC grew its holdings in Applied Industrial Technologies by 7.0% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 4,707 shares of the industrial products company’s stock worth $728,000 after acquiring an additional 307 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Applied Industrial Technologies by 0.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 39,547 shares of the industrial products company’s stock worth $6,114,000 after acquiring an additional 364 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Applied Industrial Technologies by 494.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,013 shares of the industrial products company’s stock worth $4,022,000 after acquiring an additional 21,635 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Applied Industrial Technologies by 96.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 425,295 shares of the industrial products company’s stock worth $65,755,000 after acquiring an additional 208,315 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 1.5 %

Applied Industrial Technologies stock opened at $192.39 on Wednesday. The company’s 50 day simple moving average is $187.50 and its 200 day simple moving average is $171.49. Applied Industrial Technologies, Inc. has a fifty-two week low of $122.24 and a fifty-two week high of $201.76. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 20.19 and a beta of 1.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.74 and a quick ratio of 2.59.

Applied Industrial Technologies (NYSE:AITGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.13. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned $2.05 EPS. Applied Industrial Technologies’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.42 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a dividend of $0.37 per share. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, February 14th. This represents a $1.48 annualized dividend and a yield of 0.77%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.53%.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the sale, the vice president now directly owns 57,155 shares in the company, valued at approximately $10,421,642.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on AIT shares. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $182.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Oppenheimer started coverage on shares of Applied Industrial Technologies in a report on Tuesday. They set an “outperform” rating and a $235.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $197.25.

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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.

See Also

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

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