New York Life Investment Management LLC Trims Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

New York Life Investment Management LLC lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,431 shares of the industrial products company’s stock after selling 70 shares during the period. New York Life Investment Management LLC’s holdings in Applied Industrial Technologies were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AIT. Huntington National Bank increased its stake in shares of Applied Industrial Technologies by 963.2% in the 3rd quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 183 shares in the last quarter. NBC Securities Inc. acquired a new stake in Applied Industrial Technologies in the 3rd quarter worth about $40,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Applied Industrial Technologies in the 4th quarter worth about $54,000. GAMMA Investing LLC acquired a new stake in Applied Industrial Technologies in the 4th quarter worth about $86,000. Finally, Consolidated Planning Corp acquired a new stake in Applied Industrial Technologies in the 4th quarter worth about $209,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

AIT has been the topic of several research analyst reports. Oppenheimer initiated coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price objective on the stock. KeyCorp lifted their price objective on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $201.00.

Get Our Latest Report on AIT

Applied Industrial Technologies Trading Up 0.4 %

Shares of Applied Industrial Technologies stock opened at $197.33 on Friday. The stock has a market cap of $7.62 billion, a P/E ratio of 20.68, a P/E/G ratio of 2.05 and a beta of 1.10. The stock’s 50 day simple moving average is $189.93 and its 200-day simple moving average is $177.73. Applied Industrial Technologies, Inc. has a 1-year low of $122.24 and a 1-year high of $201.76. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70.

Applied Industrial Technologies (NYSE:AITGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The firm 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 firm posted $2.38 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts predict that Applied Industrial Technologies, Inc. will post 9.6 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

Applied Industrial Technologies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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