Applied Industrial Technologies (AIT) Stake Raised by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lifted its position in Applied Industrial Technologies (NYSE:AIT) by 19.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,524 shares of the industrial products company’s stock after purchasing an additional 3,552 shares during the period. Jefferies Financial Group Inc.’s holdings in Applied Industrial Technologies were worth $1,161,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Applied Industrial Technologies by 4.4% in the fourth quarter. BlackRock Inc. now owns 6,362,725 shares of the industrial products company’s stock valued at $343,203,000 after purchasing an additional 267,302 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Applied Industrial Technologies by 11.4% in the third quarter. JPMorgan Chase & Co. now owns 2,363,587 shares of the industrial products company’s stock valued at $184,950,000 after purchasing an additional 241,427 shares in the last quarter. FMR LLC raised its stake in Applied Industrial Technologies by 20.7% in the third quarter. FMR LLC now owns 1,097,672 shares of the industrial products company’s stock valued at $85,893,000 after purchasing an additional 188,411 shares in the last quarter. Macquarie Group Ltd. raised its stake in Applied Industrial Technologies by 26.4% in the third quarter. Macquarie Group Ltd. now owns 868,319 shares of the industrial products company’s stock valued at $67,946,000 after purchasing an additional 181,231 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Applied Industrial Technologies in the third quarter valued at approximately $4,718,000. 88.86% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday. Longbow Research raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Friday, March 8th. Wellington Shields downgraded shares of Applied Industrial Technologies from a “buy” rating to a “gradually accumulate” rating in a research note on Thursday, January 24th. Finally, KeyCorp raised shares of Applied Industrial Technologies from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, January 15th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Applied Industrial Technologies currently has an average rating of “Hold” and an average target price of $71.00.

AIT traded up $0.72 on Friday, reaching $58.86. The company had a trading volume of 2,023 shares, compared to its average volume of 218,972. The company has a market capitalization of $2.25 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.06 and a beta of 1.29. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.75 and a quick ratio of 1.61. Applied Industrial Technologies has a 52-week low of $50.56 and a 52-week high of $82.35.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, January 24th. The industrial products company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.07). The business had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $855.94 million. Applied Industrial Technologies had a return on equity of 20.03% and a net margin of 4.80%. The company’s revenue was up 25.9% compared to the same quarter last year. During the same period last year, the business posted $0.79 earnings per share. On average, equities analysts anticipate that Applied Industrial Technologies will post 4.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Friday, February 15th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, February 14th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 2.11%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 33.16%.

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About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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