Artisan Partners Limited Partnership Grows Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Artisan Partners Limited Partnership increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 32.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,975 shares of the industrial products company’s stock after purchasing an additional 58,140 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Applied Industrial Technologies were worth $57,227,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the business. Larson Financial Group LLC boosted its position in Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 118 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies in the 4th quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Applied Industrial Technologies during the 4th quarter worth $44,000. Parkside Financial Bank & Trust boosted its position in shares of 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 valued at $49,000 after acquiring an additional 41 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $84,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 0.0 %

NYSE:AIT opened at $232.79 on Friday. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98. The stock’s fifty day moving average is $247.48 and its two-hundred day moving average is $244.70. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.46 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is presently 18.64%.

Wall Street Analysts Forecast Growth

AIT has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Raymond James reissued an “outperform” rating and set a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Finally, KeyCorp decreased their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $284.29.

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.