Applied Industrial Technologies, Inc. (NYSE:AIT) Holdings Raised by Mariner LLC

Mariner LLC grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,742 shares of the industrial products company’s stock after acquiring an additional 283 shares during the quarter. Mariner LLC’s holdings in Applied Industrial Technologies were worth $896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in AIT. Barclays PLC increased its holdings in shares of Applied Industrial Technologies by 156.6% in the 3rd 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 last quarter. Franklin Resources Inc. increased its holdings in shares of Applied Industrial Technologies by 14.3% in the 3rd quarter. Franklin Resources Inc. now owns 233,655 shares of the industrial products company’s stock valued at $53,238,000 after acquiring an additional 29,288 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 55 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Applied Industrial Technologies by 10.5% in the 4th quarter. GAMMA Investing LLC now owns 933 shares of the industrial products company’s stock valued at $223,000 after acquiring an additional 89 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Applied Industrial Technologies by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company’s stock valued at $48,540,000 after acquiring an additional 9,667 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on AIT. Raymond James restated an “outperform” rating and set a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. KeyCorp lowered their price objective 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. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Loop Capital lowered their price objective on Applied Industrial Technologies from $320.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Robert W. Baird upped their price objective 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. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $287.14.

Applied Industrial Technologies Stock Up 0.2 %

Applied Industrial Technologies stock opened at $238.93 on Tuesday. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.14 and a beta of 1.01. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $229.52 and its two-hundred day moving average price is $246.15. Applied Industrial Technologies, Inc. has a 52 week low of $180.35 and a 52 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 (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. On average, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.77%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s payout ratio is currently 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.