4,566 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by Seven Eight Capital LP

Seven Eight Capital LP purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) in the fourth quarter, Holdings Channel reports. The fund purchased 4,566 shares of the industrial products company’s stock, valued at approximately $789,000.

Other large investors also recently made changes to their positions in the company. Capital Research Global Investors grew its stake in Applied Industrial Technologies by 978.3% in the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock valued at $96,646,000 after buying an additional 507,750 shares during the last quarter. FMR LLC increased its stake in shares of Applied Industrial Technologies by 38.5% in the third quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock worth $251,329,000 after purchasing an additional 451,876 shares during the period. Norges Bank acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth about $72,436,000. Charles Schwab Investment Management Inc. boosted its stake in Applied Industrial Technologies by 30.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 547,945 shares of the industrial products company’s stock valued at $84,718,000 after purchasing an additional 128,629 shares during the period. Finally, Capital World Investors grew its holdings in Applied Industrial Technologies by 51.7% in the 4th quarter. Capital World Investors now owns 310,480 shares of the industrial products company’s stock valued at $53,617,000 after buying an additional 105,824 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Up 0.1 %

Shares of AIT stock opened at $187.31 on Tuesday. Applied Industrial Technologies, Inc. has a one year low of $134.12 and a one year high of $201.76. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70. The stock has a fifty day moving average price of $191.00 and a 200 day moving average price of $183.07. The stock has a market cap of $7.23 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.95 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AITGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.08. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $2.38 EPS. Analysts predict that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.79%. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

Wall Street Analyst Weigh In

AIT has been the topic of a number of research reports. Oppenheimer started coverage on shares of Applied Industrial Technologies in a research report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 target price on the stock. KeyCorp boosted their price objective on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Buy” and a consensus target price of $201.00.

Get Our Latest Research Report on Applied Industrial Technologies

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $196.71, for a total value of $127,861.50. Following the sale, the vice president now directly owns 22,960 shares in the company, valued at $4,516,461.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by insiders.

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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