Williamson Legacy Group LLC Buys 193 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Williamson Legacy Group LLC grew its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,971 shares of the industrial products company’s stock after purchasing an additional 193 shares during the quarter. Williamson Legacy Group LLC’s holdings in Applied Industrial Technologies were worth $951,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Raymond James & Associates grew its position in shares of Applied Industrial Technologies by 19.4% in the 3rd quarter. Raymond James & Associates now owns 14,612 shares of the industrial products company’s stock worth $3,260,000 after buying an additional 2,371 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Applied Industrial Technologies during the 3rd quarter valued at about $217,000. State of Alaska Department of Revenue grew its position in Applied Industrial Technologies by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,495 shares of the industrial products company’s stock valued at $1,002,000 after purchasing an additional 300 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Applied Industrial Technologies by 1.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 9,933 shares of the industrial products company’s stock valued at $2,216,000 after purchasing an additional 175 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in Applied Industrial Technologies by 65.6% during the 3rd quarter. New York State Common Retirement Fund now owns 144,621 shares of the industrial products company’s stock valued at $32,269,000 after purchasing an additional 57,283 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on AIT shares. Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $285.00 to $315.00 in a research note on Tuesday, November 26th. Finally, KeyCorp upped their target price on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $291.43.

Applied Industrial Technologies Stock Up 2.5 %

NYSE AIT opened at $250.79 on Friday. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average of $253.61 and a two-hundred day moving average of $241.01. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. On average, analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.64%.

Applied Industrial Technologies 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.