5,625 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,625 shares of the industrial products company’s stock, valued at approximately $1,347,000.

A number of other large investors have also modified their holdings of AIT. Larson Financial Group LLC increased its position in shares of Applied Industrial Technologies by 5,900.0% in the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after buying an additional 118 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth about $44,000. Huntington National Bank boosted its holdings in Applied Industrial Technologies by 33.8% in the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company’s stock worth $45,000 after buying an additional 47 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Applied Industrial Technologies by 25.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp lowered their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird raised their price target on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Raymond James reaffirmed 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. Two equities research 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 an average rating of “Moderate Buy” and a consensus price target of $284.29.

Applied Industrial Technologies Trading Down 2.5 %

Shares of AIT stock opened at $211.16 on Friday. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve month high of $282.98. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.14 and a beta of 1.01. The company’s 50-day moving average price is $243.16 and its 200-day moving average price is $245.89. 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 posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, beating 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%. As a group, equities 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. Shareholders of record on Friday, February 14th were paid a dividend of $0.46 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a yield of 0.87%. 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.