Kapitalo Investimentos Ltda Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Kapitalo Investimentos Ltda acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,860 shares of the industrial products company’s stock, valued at approximately $494,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIT. ICA Group Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth $26,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Applied Industrial Technologies in the fourth quarter worth about $54,000. GAMMA Investing LLC acquired a new stake in shares of Applied Industrial Technologies in the 4th quarter valued at approximately $86,000. Consolidated Planning Corp bought a new stake in shares of Applied Industrial Technologies during the 4th quarter valued at approximately $209,000. Finally, Riverwater Partners LLC acquired a new position in Applied Industrial Technologies during the 4th quarter worth approximately $212,000. 93.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on AIT shares. Oppenheimer began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 target price on the stock. KeyCorp boosted their price objective on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $201.00.

Read Our Latest Stock Report on Applied Industrial Technologies

Insider Activity

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total transaction of $127,861.50. Following the transaction, the vice president now owns 22,960 shares in the company, valued at $4,516,461.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Applied Industrial Technologies Trading Up 1.0 %

AIT stock traded up $1.85 during trading on Tuesday, hitting $186.97. The company had a trading volume of 32,434 shares, compared to its average volume of 307,255. The stock has a market cap of $7.22 billion, a PE ratio of 19.40, a PEG ratio of 1.91 and a beta of 1.08. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies, Inc. has a one year low of $134.74 and a one year high of $201.76. The business has a 50-day moving average of $190.25 and a 200-day moving average of $184.02.

Applied Industrial Technologies (NYSE:AITGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.08. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $2.38 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.79%. The ex-dividend date was Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 15.51%.

About Applied Industrial Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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