Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Grace & White Inc. NY

Grace & White Inc. NY decreased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,316 shares of the industrial products company’s stock after selling 4,150 shares during the period. Applied Industrial Technologies accounts for about 4.8% of Grace & White Inc. NY’s holdings, making the stock its biggest holding. Grace & White Inc. NY’s holdings in Applied Industrial Technologies were worth $27,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank boosted its holdings in Applied Industrial Technologies by 963.2% in the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 183 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $40,000. Legacy Financial Group LLC bought a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $52,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $54,000. Finally, GAMMA Investing LLC bought a new stake in Applied Industrial Technologies during the fourth quarter worth $86,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

NYSE:AIT traded up $2.71 during trading hours on Tuesday, reaching $186.31. The stock had a trading volume of 257,086 shares, compared to its average volume of 335,101. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74. The stock has a 50 day simple moving average of $190.16 and a 200 day simple moving average of $174.99. Applied Industrial Technologies, Inc. has a 12-month low of $122.24 and a 12-month high of $201.76. The stock has a market cap of $7.20 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business posted $2.05 earnings per share. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were given a $0.37 dividend. The ex-dividend date was Wednesday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 0.79%. Applied Industrial Technologies’s payout ratio is 15.53%.

Insider Activity at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 2,000 shares of Applied Industrial Technologies stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total transaction of $364,680.00. Following the completion of the sale, the vice president now owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AIT. KeyCorp lifted their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Oppenheimer began coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Buy” and an average price target of $201.00.

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.