Calamos Advisors LLC Has $923,000 Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Calamos Advisors LLC decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 53.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,342 shares of the industrial products company’s stock after selling 6,227 shares during the period. Calamos Advisors LLC’s holdings in Applied Industrial Technologies were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Fox Run Management L.L.C. acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $336,000. Allspring Global Investments Holdings LLC increased its stake in shares of Applied Industrial Technologies by 19.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company’s stock worth $87,879,000 after acquiring an additional 83,585 shares during the last quarter. Measured Wealth Private Client Group LLC grew its stake 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 purchasing an additional 307 shares in the last quarter. Los Angeles Capital Management LLC increased its position in Applied Industrial Technologies by 0.9% in 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 purchasing an additional 364 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in shares of 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 purchasing an additional 21,635 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the completion of the sale, the vice president now directly 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 can be accessed through this hyperlink. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Stock Performance

AIT opened at $183.45 on Monday. 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 company has a market cap of $7.09 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08. The stock has a 50-day moving average of $190.23 and a 200-day moving average of $174.79. Applied Industrial Technologies, Inc. has a 52-week low of $122.24 and a 52-week high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results 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 return on equity of 24.59% and a net margin of 8.39%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $2.05 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.49 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.81%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.53%.

Analysts Set New Price Targets

Several brokerages recently commented on AIT. KeyCorp boosted their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer assumed coverage on shares of Applied Industrial Technologies in a research report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $201.00.

Applied Industrial Technologies Company Profile

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.