QRG Capital Management Inc. Acquires 496 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

QRG Capital Management Inc. grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,790 shares of the industrial products company’s stock after buying an additional 496 shares during the quarter. QRG Capital Management Inc.’s holdings in Applied Industrial Technologies were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Huntington National Bank boosted its position in Applied Industrial Technologies by 963.2% in the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 183 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Applied Industrial Technologies in the third quarter worth approximately $40,000. McGlone Suttner Wealth Management Inc. bought a new stake in Applied Industrial Technologies during the fourth quarter valued at approximately $54,000. GAMMA Investing LLC purchased a new stake in Applied Industrial Technologies during the fourth quarter valued at approximately $86,000. Finally, Consolidated Planning Corp bought a new position in Applied Industrial Technologies in the fourth quarter worth approximately $209,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $199.70 on Thursday. The stock has a 50-day moving average price of $190.69 and a 200 day moving average price of $178.66. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies, Inc. has a 12-month low of $122.24 and a 12-month high of $201.76. The stock has a market capitalization of $7.71 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.03 and a beta of 1.10.

Applied Industrial Technologies (NYSE:AITGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business posted $2.38 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.6 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.51%.

Analyst Ratings Changes

Several equities research analysts have recently commented on AIT shares. KeyCorp upped their price objective on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer started coverage on shares of Applied Industrial Technologies in a 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 target price of $201.00.

Read Our Latest Stock Report on AIT

Applied Industrial Technologies Company 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.

Featured Stories

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

Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.