Corient Private Wealth LLC Sells 69 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Corient Private Wealth LLC trimmed its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 3,229 shares of the industrial products company’s stock after selling 69 shares during the period. Corient Private Wealth LLC’s holdings in Applied Industrial Technologies were worth $773,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI purchased a new stake in Applied Industrial Technologies during the 3rd quarter valued at $84,139,000. Raymond James Financial Inc. purchased a new stake in Applied Industrial Technologies during the fourth quarter valued at $25,518,000. Polar Asset Management Partners Inc. bought a new position in Applied Industrial Technologies in the third quarter valued at about $12,897,000. Barclays PLC boosted its position 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 worth $16,537,000 after purchasing an additional 45,224 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Applied Industrial Technologies by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company’s stock valued at $232,181,000 after purchasing an additional 40,689 shares during the period. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 0.0 %

NYSE AIT opened at $232.79 on Friday. Applied Industrial Technologies, Inc. has a 12 month low of $177.68 and a 12 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. The stock 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. The stock’s 50 day moving average is $247.48 and its 200 day moving average is $244.70.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping 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%. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal 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 issued a dividend of $0.46 per share. 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 was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is 18.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. KeyCorp cut 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 report on Monday, March 17th. Robert W. Baird raised their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Raymond James reissued an “outperform” rating and set a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $284.29.

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.