Envestnet Portfolio Solutions Inc. Sells 135 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Envestnet Portfolio Solutions Inc. cut its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,367 shares of the industrial products company’s stock after selling 135 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Applied Industrial Technologies were worth $327,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AIT. Natixis Advisors LLC purchased a new stake in shares of Applied Industrial Technologies in the 4th quarter worth approximately $2,602,000. Commonwealth Equity Services LLC raised its stake in Applied Industrial Technologies by 1.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,322 shares of the industrial products company’s stock worth $1,993,000 after buying an additional 141 shares in the last quarter. Balboa Wealth Partners purchased a new stake in Applied Industrial Technologies during the fourth quarter worth $223,000. Swiss National Bank boosted its position in Applied Industrial Technologies by 0.3% during the 4th quarter. Swiss National Bank now owns 75,600 shares of the industrial products company’s stock valued at $18,104,000 after acquiring an additional 200 shares in the last quarter. Finally, SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $1,092,000. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Raymond James restated an “outperform” rating and issued a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. KeyCorp reduced their price objective on shares of 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, Robert W. Baird raised their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $284.29.

Applied Industrial Technologies Stock Down 0.0 %

NYSE:AIT opened at $232.79 on Friday. The company’s 50 day moving average is $247.48 and its two-hundred day moving average is $244.70. The company has a market cap of $8.93 billion, a PE ratio of 23.59, a P/E/G ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve month high of $282.98. 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 (NYSE:AIT) last released its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) 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%. Analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.79%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 18.64%.

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.