Atria Investments Inc Sells 280 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Atria Investments Inc trimmed its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,058 shares of the industrial products company’s stock after selling 280 shares during the period. Atria Investments Inc’s holdings in Applied Industrial Technologies were worth $1,211,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $30,000. First Horizon Advisors Inc. increased its position in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after buying an additional 88 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Applied Industrial Technologies during the fourth quarter worth approximately $44,000. Parkside Financial Bank & Trust increased its position in Applied Industrial Technologies by 25.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock worth $49,000 after buying an additional 41 shares during the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in Applied Industrial Technologies during the third quarter worth approximately $84,000. 93.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AIT shares. Oppenheimer boosted their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird upped their target price 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. Raymond James restated 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. Finally, Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $291.43.

Applied Industrial Technologies Stock Down 0.4 %

Shares of NYSE:AIT opened at $226.84 on Wednesday. The company has a fifty day moving average of $252.10 and a 200-day moving average of $243.03. The company has a market capitalization of $8.71 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. Applied Industrial Technologies, Inc. has a 52-week low of $177.68 and a 52-week high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results 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, equities analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.81%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is presently 18.64%.

Applied Industrial Technologies 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.