Intech Investment Management LLC Has $4.24 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Intech Investment Management LLC boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 122.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,696 shares of the industrial products company’s stock after buying an additional 9,737 shares during the period. Intech Investment Management LLC’s holdings in Applied Industrial Technologies were worth $4,238,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings in Applied Industrial Technologies by 5,900.0% during the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock worth $29,000 after buying an additional 118 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. raised its holdings in shares of Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $44,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Applied Industrial Technologies by 25.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 41 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. KeyCorp lowered their price objective on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Raymond James reiterated an “outperform” rating and issued a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Finally, Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.29.

Applied Industrial Technologies Trading Down 1.3 %

AIT stock opened at $224.48 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The company has a fifty day moving average price of $250.09 and a two-hundred day moving average price of $243.71. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS 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 $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s payout ratio is presently 18.64%.

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.