Atria Investments Inc trimmed its stake in Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,058 shares of the industrial products company’s stock after selling 280 shares during the period. Atria Investments Inc’s holdings in Applied Industrial Technologies were worth $1,211,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter worth about $30,000. First Horizon Advisors Inc. grew its holdings in Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 88 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Applied Industrial Technologies during the 4th quarter worth about $44,000. Parkside Financial Bank & Trust grew its holdings in 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 acquiring an additional 41 shares during the period. Finally, Millburn Ridgefield Corp acquired a new stake in Applied Industrial Technologies during the 3rd quarter worth about $84,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AIT has been the subject of a number of recent analyst reports. Oppenheimer increased their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Robert W. Baird increased their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $285.00 to $315.00 in a report on Tuesday, November 26th. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. 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 given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.43.
Check Out Our Latest Report on AIT
Applied Industrial Technologies Price Performance
AIT stock opened at $226.84 on Wednesday. The stock has a market capitalization of $8.71 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The company’s 50-day moving average is $252.10 and its 200-day moving average is $243.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. Applied Industrial Technologies, Inc. has a 1 year low of $177.68 and a 1 year high of $282.98.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.
Applied Industrial Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.46 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a yield of 0.81%. 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.
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