1,209 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Purchased by Consolidated Planning Corp

Consolidated Planning Corp acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,209 shares of the industrial products company’s stock, valued at approximately $209,000.

A number of other large investors have also added to or reduced their stakes in AIT. FMR LLC boosted its position in Applied Industrial Technologies by 38.5% during the third quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock worth $251,329,000 after purchasing an additional 451,876 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Applied Industrial Technologies by 96.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 425,295 shares of the industrial products company’s stock worth $65,755,000 after purchasing an additional 208,315 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Applied Industrial Technologies by 30.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 547,945 shares of the industrial products company’s stock worth $84,718,000 after purchasing an additional 128,629 shares during the period. Premier Fund Managers Ltd boosted its position in Applied Industrial Technologies by 70.7% during the third quarter. Premier Fund Managers Ltd now owns 241,600 shares of the industrial products company’s stock worth $38,094,000 after purchasing an additional 100,100 shares during the period. Finally, Invesco Ltd. boosted its position in Applied Industrial Technologies by 15.0% during the third quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company’s stock worth $116,099,000 after purchasing an additional 98,144 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of Applied Industrial Technologies in a research report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price objective for the company. KeyCorp raised their price objective on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $201.00.

Insider Buying and Selling

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 shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the sale, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.20% of the stock is owned by insiders.

Applied Industrial Technologies Price Performance

Shares of AIT stock traded up $1.95 during trading hours on Friday, hitting $180.89. 448,122 shares of the company’s stock were exchanged, compared to its average volume of 245,005. The company has a market capitalization of $7.00 billion, a PE ratio of 18.96, a PEG ratio of 1.89 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 12-month low of $122.24 and a 12-month high of $201.76. The business’s 50 day simple moving average is $189.87 and its 200-day simple moving average is $175.59. The company has a current ratio of 3.77, a quick ratio of 2.59 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.6 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s payout ratio is 15.51%.

Applied Industrial Technologies Company 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.