2 days Ago By ABMN Staff
Russell Investments Group Ltd. trimmed its holdings in shares of Applied Industrial Technologies, Inc. ( NYSE:AIT – Free Report ) by 7.
8% in the fourth quarter, Holdings Channel.com reports. The fund owned 14,604 shares of the industrial products company’s stock after selling 1,227 shares during the quarter.
Russell Investments Group Ltd.’s holdings in Applied Industrial Technologies were worth $3,497,000 at the end of the most recent reporting period. Several other institutional investors have also made changes to their positions in AIT.
Arizona State Retirement System lifted its stake in 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 during the period.
Parkside Financial Bank & Trust lifted its position in shares of Applied Industrial Technologies by 25.3% during the 4th 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 during the period.
OneAscent Financial Services LLC boosted its stake in Applied Industrial Technologies by 4.1% in the 4th quarter. OneAscent Financial Services LLC now owns 1,038 shares of the industrial products company’s stock valued at $249,000 after buying an additional 41 shares in the last quarter.
Huntington National Bank raised its stake in Applied Industrial Technologies by 33.8% during the fourth quarter. Huntington National Bank now owns 186 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 47 shares in the last quarter.
Finally, Versant Capital Management Inc lifted its holdings in shares of 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.
93.52% of the stock is currently owned by institutional investors and hedge funds. Wall Street Analyst Weigh In AIT has been the subject of a number of research analyst reports.
Robert W. Baird lifted their price target on 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 set a $265.00 price target (up previously from $250.
00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. KeyCorp decreased their price target on Applied Industrial Technologies from $325.00 to $275.
00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd.
Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $284.29.
Applied Industrial Technologies Stock Performance AIT opened at $215.78 on Thursday. Applied Industrial Technologies, Inc.
has a 52-week low of $177.68 and a 52-week high of $282.98.
The firm has a market capitalization of $8.28 billion, a PE ratio of 21.86, a PEG ratio of 3.
14 and a beta of 1.01. The company has a debt-to-equity ratio of 0.
32, a quick ratio of 2.55 and a current ratio of 3.76.
The business’s 50-day simple moving average is $235.28 and its 200 day simple moving average is $245.47.
Applied Industrial Technologies ( NYSE:AIT – Get Free Report ) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc.
will post 9.9 earnings per share for the current fiscal year. Applied Industrial Technologies Increases Dividend The company also recently declared a quarterly dividend, which was paid on Friday, February 28th.
Stockholders of record on Friday, February 14th were issued a dividend of $0.46 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.
37. This represents a $1.84 annualized dividend and a dividend yield of 0.
85%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s payout ratio is 18.
64%. Applied Industrial Technologies Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding AIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Industrial Technologies, Inc.
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