Ausbil Investment Management Ltd Has $1.64 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Ausbil Investment Management Ltd increased its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,703 shares of the industrial products company’s stock after buying an additional 1,701 shares during the quarter. Ausbil Investment Management Ltd’s holdings in Applied Industrial Technologies were worth $1,642,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies during the third quarter worth approximately $34,000. First Horizon Advisors Inc. grew its position in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after buying an additional 88 shares in the last quarter. Quarry LP bought a new stake in Applied Industrial Technologies during the second quarter worth $39,000. UMB Bank n.a. lifted its stake in Applied Industrial Technologies by 68.1% during the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 77 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in Applied Industrial Technologies during the third quarter worth $84,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 1.3 %

Shares of AIT opened at $260.24 on Friday. Applied Industrial Technologies, Inc. has a 52 week low of $176.32 and a 52 week high of $282.98. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 3.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The stock has a fifty day moving average of $257.05 and a 200-day moving average of $233.58.

Applied Industrial Technologies (NYSE:AIT) last announced 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 22.67% and a net margin of 8.62%. As a group, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.77 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.46 per share. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 18.64%.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now directly owns 55,709 shares in the company, valued at approximately $15,689,882.76. This trade represents a 6.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the sale, the director now owns 3,462 shares of the company’s stock, valued at approximately $952,326.96. The trade was a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AIT shares. Robert W. Baird upped their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday. Oppenheimer upped their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Mizuho started coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price for the company. Loop Capital upped their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, KeyCorp upped their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $291.43.

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.