Orion Portfolio Solutions LLC Reduces Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Orion Portfolio Solutions LLC lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 3,987 shares of the industrial products company’s stock after selling 48 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Applied Industrial Technologies were worth $955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIT. Barclays PLC lifted its holdings in Applied Industrial Technologies by 156.6% in the third quarter. Barclays PLC now owns 74,109 shares of the industrial products company’s stock valued at $16,537,000 after acquiring an additional 45,224 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $44,000. Nordea Investment Management AB boosted its holdings in Applied Industrial Technologies by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company’s stock worth $48,540,000 after buying an additional 9,667 shares in the last quarter. Mountain Pacific Investment Advisers LLC grew its position in Applied Industrial Technologies by 36.6% during the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 46,155 shares of the industrial products company’s stock valued at $11,053,000 after buying an additional 12,364 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Applied Industrial Technologies by 14.3% in the third quarter. Franklin Resources Inc. now owns 233,655 shares of the industrial products company’s stock valued at $53,238,000 after buying an additional 29,288 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Down 2.5 %

Shares of AIT opened at $211.16 on Friday. The stock has a 50 day moving average price of $243.16 and a 200 day moving average price of $245.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.14 and a beta of 1.01. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Equities research analysts forecast 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 announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.46 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s payout ratio is currently 18.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AIT. KeyCorp lowered their target price on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Robert W. Baird increased their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Raymond James reaffirmed 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and an average price target of $284.29.

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.