Great West Life Assurance Co. Can grew its holdings in Applied Industrial Technologies (NYSE:AIT) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,746 shares of the industrial products company’s stock after purchasing an additional 4,569 shares during the quarter. Great West Life Assurance Co. Can owned about 0.14% of Applied Industrial Technologies worth $2,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its stake in Applied Industrial Technologies by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 12,962 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 210 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Applied Industrial Technologies by 11.1% during the 4th quarter. First Mercantile Trust Co. now owns 2,200 shares of the industrial products company’s stock worth $119,000 after buying an additional 220 shares during the last quarter. Alpha Windward LLC increased its holdings in shares of Applied Industrial Technologies by 4.3% during the 4th quarter. Alpha Windward LLC now owns 7,320 shares of the industrial products company’s stock worth $395,000 after buying an additional 300 shares during the last quarter. Piedmont Investment Advisors Inc. increased its holdings in shares of Applied Industrial Technologies by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 9,211 shares of the industrial products company’s stock worth $497,000 after buying an additional 305 shares during the last quarter. Finally, Texas Permanent School Fund increased its holdings in shares of Applied Industrial Technologies by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 25,361 shares of the industrial products company’s stock worth $1,368,000 after buying an additional 998 shares during the last quarter. 88.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of AIT stock opened at $58.11 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.75 and a quick ratio of 1.61. Applied Industrial Technologies has a 52 week low of $50.56 and a 52 week high of $82.35. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.06 and a beta of 1.29.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, January 24th. The industrial products company reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.07). Applied Industrial Technologies had a net margin of 4.80% and a return on equity of 20.03%. The business had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $855.94 million. During the same period in the prior year, the business earned $0.79 EPS. The business’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that Applied Industrial Technologies will post 4.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Friday, February 15th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.30. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 33.16%.

AIT has been the subject of several research reports. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. KeyCorp upgraded shares of Applied Industrial Technologies from a “sector weight” rating to an “overweight” rating in a report on Tuesday, January 15th. Longbow Research upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Friday, March 8th. Finally, Wellington Shields downgraded shares of Applied Industrial Technologies from a “buy” rating to a “gradually accumulate” rating in a report on Thursday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Applied Industrial Technologies currently has a consensus rating of “Hold” and a consensus target price of $71.00.

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About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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

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