Xponance Inc. Has $1.31 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Xponance Inc. grew its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,464 shares of the industrial products company’s stock after purchasing an additional 272 shares during the quarter. Xponance Inc.’s holdings in Applied Industrial Technologies were worth $1,308,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC increased its position in shares of Applied Industrial Technologies by 5,900.0% during the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 118 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. increased its position in shares of Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 88 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth approximately $44,000. Finally, Parkside Financial Bank & Trust boosted its stake 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 worth $49,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AIT shares. Raymond James reiterated an “outperform” rating and set a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Robert W. Baird lifted 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, January 30th. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. KeyCorp reduced their target price on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Finally, StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $284.29.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $224.83 on Friday. The stock has a market capitalization of $8.63 billion, a PE ratio of 22.78, a P/E/G ratio of 3.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The business has a fifty day moving average price of $248.92 and a two-hundred day moving average price of $243.96. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week 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 for the quarter, beating 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, equities analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share 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. Shareholders of record on Friday, February 14th were issued a $0.46 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.82%. Applied Industrial Technologies’s payout ratio is currently 18.64%.

Applied Industrial Technologies 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.