Linden Thomas Advisory Services LLC Raises Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Linden Thomas Advisory Services LLC increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 38.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,311 shares of the industrial products company’s stock after purchasing an additional 914 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Applied Industrial Technologies were worth $572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AIT. Illinois Municipal Retirement Fund raised its position in Applied Industrial Technologies by 1.5% in the 4th quarter. Illinois Municipal Retirement Fund now owns 26,404 shares of the industrial products company’s stock valued at $4,560,000 after purchasing an additional 391 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Applied Industrial Technologies by 11.1% during the fourth quarter. California Public Employees Retirement System now owns 64,203 shares of the industrial products company’s stock worth $11,087,000 after purchasing an additional 6,404 shares during the period. Duality Advisers LP boosted its holdings in Applied Industrial Technologies by 13.7% in the 4th quarter. Duality Advisers LP now owns 3,251 shares of the industrial products company’s stock valued at $561,000 after purchasing an additional 392 shares in the last quarter. Foundry Partners LLC grew its stake in shares of Applied Industrial Technologies by 39.5% during the 4th quarter. Foundry Partners LLC now owns 2,984 shares of the industrial products company’s stock worth $515,000 after purchasing an additional 845 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Applied Industrial Technologies in the 4th quarter valued at approximately $393,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on AIT shares. Oppenheimer began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price for the company. KeyCorp upped 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $201.00.

Insider Activity

In related news, VP Warren E. Hoffner III sold 2,000 shares of Applied Industrial Technologies stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $182.34, for a total transaction of $364,680.00. Following the sale, the vice president now directly owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.

Applied Industrial Technologies Trading Down 3.9 %

Shares of NYSE:AIT opened at $178.79 on Friday. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.96 and a beta of 1.08. 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 company has a 50 day moving average price of $190.03 and a 200 day moving average price of $175.31. Applied Industrial Technologies, Inc. has a 1-year low of $122.24 and a 1-year high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly 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 8.39% and a return on equity of 24.59%. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the company posted $2.38 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.5 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio is currently 15.53%.

About Applied Industrial Technologies

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.