Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,152 shares of the industrial products company’s stock after purchasing an additional 190 shares during the period. Mutual of America Capital Management LLC’s holdings in Applied Industrial Technologies were worth $14,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust grew its holdings in shares of Applied Industrial Technologies by 25.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 41 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $6,767,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Applied Industrial Technologies by 26.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 2,924 shares of the industrial products company’s stock valued at $700,000 after purchasing an additional 606 shares in the last quarter. Harfst & Associates Inc. grew its holdings in shares of Applied Industrial Technologies by 37.7% in the fourth quarter. Harfst & Associates Inc. now owns 13,635 shares of the industrial products company’s stock valued at $3,265,000 after purchasing an additional 3,731 shares in the last quarter. Finally, Robeco Schweiz AG grew its holdings in shares of Applied Industrial Technologies by 16.7% in the fourth quarter. Robeco Schweiz AG now owns 186,960 shares of the industrial products company’s stock valued at $44,771,000 after purchasing an additional 26,800 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AIT shares. Raymond James restated an “outperform” rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Oppenheimer boosted their price target on shares of 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 boosted their price target on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, KeyCorp boosted their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average target price of $291.43.

Applied Industrial Technologies Stock Up 2.5 %

Shares of NYSE:AIT opened at $250.79 on Friday. The company has a market capitalization of $9.62 billion, a PE ratio of 25.41, a P/E/G ratio of 3.14 and a beta of 1.08. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve month high of $282.98. The firm has a 50 day simple moving average of $253.61 and a 200-day simple moving average of $241.01.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping 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%. On average, equities analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s payout ratio is currently 18.64%.

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.