RMB Capital Management LLC Purchases 839 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

RMB Capital Management LLC increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,599 shares of the industrial products company’s stock after purchasing an additional 839 shares during the quarter. RMB Capital Management LLC owned approximately 0.20% of Applied Industrial Technologies worth $13,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AIT. Meritage Portfolio Management increased its position in Applied Industrial Technologies by 2.0% during the 4th quarter. Meritage Portfolio Management now owns 3,638 shares of the industrial products company’s stock worth $628,000 after buying an additional 73 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Applied Industrial Technologies by 19.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company’s stock valued at $87,879,000 after buying an additional 83,585 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Applied Industrial Technologies by 116.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 7,623 shares of the industrial products company’s stock valued at $1,316,000 after acquiring an additional 4,098 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of Applied Industrial Technologies by 5.4% in the 4th quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock valued at $108,009,000 after buying an additional 32,282 shares during the last quarter. Finally, WCM Investment Management LLC raised its position in shares of Applied Industrial Technologies by 7.9% during the fourth quarter. WCM Investment Management LLC now owns 121,454 shares of the industrial products company’s stock worth $21,152,000 after acquiring an additional 8,845 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the completion of the transaction, the vice president now owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AIT shares. KeyCorp lifted their price objective on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. 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 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $201.00.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT traded down $0.88 during midday trading on Tuesday, hitting $186.46. The company’s stock had a trading volume of 98,914 shares, compared to its average volume of 311,263. The stock has a fifty day moving average price of $191.00 and a 200 day moving average price of $183.07. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.95 and a beta of 1.08. Applied Industrial Technologies, Inc. has a one year low of $134.12 and a one year high of $201.76. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted $2.38 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a $0.37 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.79%. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

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.