BI Asset Management Fondsmaeglerselskab A S Buys Shares of 2,503 Applied Industrial Technologies, Inc. (NYSE:AIT)

BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,503 shares of the industrial products company’s stock, valued at approximately $432,000.

A number of other large investors have also made changes to their positions in AIT. FMR LLC grew its position in Applied Industrial Technologies by 38.5% in the third quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock worth $251,329,000 after acquiring an additional 451,876 shares during the period. Dimensional Fund Advisors LP lifted its stake in Applied Industrial Technologies by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock worth $163,575,000 after purchasing an additional 21,276 shares in the last quarter. Invesco Ltd. lifted its stake 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 in the last quarter. Boston Trust Walden Corp lifted its stake in Applied Industrial Technologies by 5.4% during the fourth quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock worth $108,009,000 after purchasing an additional 32,282 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Applied Industrial Technologies by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 559,037 shares of the industrial products company’s stock worth $96,540,000 after purchasing an additional 11,092 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIT has been the topic of several research reports. KeyCorp raised their price objective 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 initiated 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $201.00.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the transaction, the vice president now owns 22,960 shares in the company, valued at approximately $4,516,461.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.

Applied Industrial Technologies Stock Up 0.1 %

Shares of NYSE AIT opened at $195.72 on Friday. Applied Industrial Technologies, Inc. has a 52-week low of $122.24 and a 52-week high of $201.76. The firm has a fifty day moving average of $192.40 and a 200-day moving average of $180.58. The stock has a market capitalization of $7.55 billion, a PE ratio of 20.52, a P/E/G ratio of 2.03 and a beta of 1.10. The company has a quick ratio of 2.70, a current ratio of 3.77 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company earned $2.38 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.76%. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

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.