Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Fiduciary Management Inc. WI

Fiduciary Management Inc. WI reduced its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 54.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,440 shares of the industrial products company’s stock after selling 287,130 shares during the period. Fiduciary Management Inc. WI’s holdings in Applied Industrial Technologies were worth $58,297,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AIT. Arizona State Retirement System increased its position in shares of Applied Industrial Technologies by 0.4% during the fourth quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company’s stock worth $2,672,000 after purchasing an additional 40 shares in the last quarter. Parkside Financial Bank & Trust grew 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 worth $49,000 after buying an additional 41 shares in the last quarter. OneAscent Financial Services LLC grew its holdings in shares of Applied Industrial Technologies by 4.1% during the fourth quarter. OneAscent Financial Services LLC now owns 1,038 shares of the industrial products company’s stock worth $249,000 after buying an additional 41 shares in the last quarter. Huntington National Bank raised its position in shares of Applied Industrial Technologies by 33.8% in the fourth quarter. Huntington National Bank now owns 186 shares of the industrial products company’s stock valued at $45,000 after buying an additional 47 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock worth $91,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AIT shares. Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and issued a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. KeyCorp lowered their price objective 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. Loop Capital cut their target price on Applied Industrial Technologies from $320.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday. Finally, StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Two investment 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.14.

Applied Industrial Technologies Trading Up 3.0 %

Shares of Applied Industrial Technologies stock opened at $221.94 on Friday. The company has a fifty day simple moving average of $233.63 and a 200-day simple moving average of $245.45. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 3.14 and a beta of 1.01. Applied Industrial Technologies, Inc. has a 12-month low of $177.68 and a 12-month 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 announced its earnings results 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 net margin of 8.62% and a return on equity of 22.37%. On average, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.83%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 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.