Isthmus Partners LLC Invests $714,000 in Applied Industrial Technologies, Inc. (NYSE:AIT)

Isthmus Partners LLC purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,200 shares of the industrial products company’s stock, valued at approximately $714,000.

Several other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. boosted its position in Applied Industrial Technologies by 3.9% during the third quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock valued at $255,000 after buying an additional 43 shares during the period. QRG Capital Management Inc. raised its stake in Applied Industrial Technologies by 0.9% during the 2nd quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock valued at $1,254,000 after buying an additional 55 shares during the last quarter. Miller Howard Investments Inc. NY raised its stake in Applied Industrial Technologies by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock valued at $446,000 after buying an additional 55 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Applied Industrial Technologies by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock valued at $3,374,000 after acquiring an additional 61 shares during the period. Finally, Dana Investment Advisors Inc. grew its position in shares of Applied Industrial Technologies by 0.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock valued at $1,928,000 after acquiring an additional 65 shares during the period. Institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

AIT has been the subject of a number of recent research reports. Mizuho initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective for the company. Loop Capital boosted their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Oppenheimer upped their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Robert W. Baird upped their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, KeyCorp upped their target price on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.57.

Applied Industrial Technologies Stock Up 0.6 %

AIT opened at $275.58 on Friday. The firm has a 50-day simple moving average of $243.16 and a two-hundred day simple moving average of $213.80. Applied Industrial Technologies, Inc. has a 52 week low of $156.50 and a 52 week high of $282.98. The company has a market capitalization of $10.60 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 3.76 and a beta of 1.03. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company posted $2.39 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.54%. Applied Industrial Technologies’s dividend payout ratio is presently 15.10%.

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.