Guyasuta Investment Advisors Inc. Lowers Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Guyasuta Investment Advisors Inc. lessened its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,475 shares of the industrial products company’s stock after selling 405 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in Applied Industrial Technologies were worth $2,987,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AIT. V Square Quantitative Management LLC purchased a new stake in Applied Industrial Technologies during the third quarter valued at about $34,000. First Horizon Advisors Inc. grew its position in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 88 shares during the period. Millburn Ridgefield Corp purchased a new stake in Applied Industrial Technologies during the third quarter valued at about $84,000. Versant Capital Management Inc grew its position in Applied Industrial Technologies by 16.8% during the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 55 shares during the period. Finally, Values First Advisors Inc. acquired a new position in shares of Applied Industrial Technologies during the third quarter worth about $114,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insiders Place Their Bets

In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the sale, the director now directly owns 3,462 shares in the company, valued at $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James restated an “outperform” rating and set a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Robert W. Baird boosted their price objective on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Mizuho started coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective on the stock. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Finally, StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.43.

Applied Industrial Technologies Stock Up 0.7 %

NYSE:AIT opened at $265.11 on Friday. The firm has a market capitalization of $10.17 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. The stock has a 50 day moving average of $254.60 and a 200-day moving average of $236.96. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. Analysts predict that Applied Industrial Technologies, Inc. will post 9.87 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.69%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is 14.99%.

About Applied Industrial Technologies

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.