Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,047 shares of the industrial products company’s stock after buying an additional 14,426 shares during the quarter. New York State Common Retirement Fund owned 0.41% of Applied Industrial Technologies worth $38,087,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AIT. Creative Planning boosted its stake in Applied Industrial Technologies by 27.2% during the third quarter. Creative Planning now owns 11,239 shares of the industrial products company’s stock valued at $2,508,000 after buying an additional 2,400 shares in the last quarter. Raymond James & Associates boosted its stake in Applied Industrial Technologies by 19.4% during the third quarter. Raymond James & Associates now owns 14,612 shares of the industrial products company’s stock valued at $3,260,000 after buying an additional 2,371 shares in the last quarter. International Assets Investment Management LLC bought a new position in Applied Industrial Technologies during the third quarter valued at about $213,590,000. Values First Advisors Inc. bought a new position in Applied Industrial Technologies during the third quarter valued at about $114,000. Finally, Ballentine Partners LLC boosted its stake in Applied Industrial Technologies by 7.1% during the third quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company’s stock valued at $248,000 after buying an additional 74 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In other news, VP Warren E. Hoffner III sold 4,000 shares of the firm’s 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 of the company’s stock, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the firm’s 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 directly owns 3,462 shares of the company’s stock, valued at $952,326.96. This trade represents a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Stock Down 0.8 %

Shares of Applied Industrial Technologies stock opened at $263.90 on Friday. The stock has a 50-day moving average price of $254.09 and a 200 day moving average price of $238.85. The company has a market cap of $10.13 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.44 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 1 year low of $177.68 and a 1 year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data 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%. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 9.87 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.46 dividend. 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 0.70%. The ex-dividend date is Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is currently 18.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AIT. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird increased their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. Loop Capital increased their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Raymond James reiterated an “outperform” rating and issued a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.