Public Employees Retirement System of Ohio cut its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.5% during the first quarter, Holdings Channel reports. The fund owned 4,263 shares of the industrial products company’s stock after selling 448 shares during the period. Public Employees Retirement System of Ohio’s holdings in Applied Industrial Technologies were worth $264,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its stake in Applied Industrial Technologies by 2.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,741 shares of the industrial products company’s stock worth $170,000 after buying an additional 64 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Applied Industrial Technologies by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,320 shares of the industrial products company’s stock worth $267,000 after buying an additional 90 shares during the last quarter. Neuburgh Advisers LLC boosted its stake in Applied Industrial Technologies by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 1,892 shares of the industrial products company’s stock worth $117,000 after buying an additional 110 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Applied Industrial Technologies by 1.4% in the first quarter. BNP Paribas Arbitrage SA now owns 8,644 shares of the industrial products company’s stock worth $535,000 after buying an additional 122 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Applied Industrial Technologies by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,910 shares of the industrial products company’s stock worth $551,000 after buying an additional 130 shares during the last quarter. Institutional investors own 87.47% of the company’s stock.

Shares of Applied Industrial Technologies, Inc. (NYSE AIT) traded down 0.09% during midday trading on Tuesday, hitting $56.00. 19,906 shares of the company were exchanged. The company’s 50 day moving average price is $58.51 and its 200 day moving average price is $61.01. The firm has a market cap of $2.19 billion, a P/E ratio of 20.56 and a beta of 0.95. Applied Industrial Technologies, Inc. has a one year low of $43.50 and a one year high of $69.00.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, August 11th. Applied Industrial Technologies’s payout ratio is presently 42.65%.

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A number of equities research analysts recently weighed in on the stock. BidaskClub cut shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating and set a $63.00 price objective (down from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research cut shares of Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $65.50.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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