Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Amalgamated Bank

Amalgamated Bank increased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,670 shares of the industrial products company’s stock after buying an additional 71 shares during the period. Amalgamated Bank’s holdings in Applied Industrial Technologies were worth $4,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp boosted its holdings in shares of Applied Industrial Technologies by 2.4% in the 3rd quarter. State Street Corp now owns 1,441,051 shares of the industrial products company’s stock valued at $321,542,000 after acquiring an additional 34,113 shares during the last quarter. Geode Capital Management LLC lifted its position in Applied Industrial Technologies by 4.1% during the third 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. Charles Schwab Investment Management Inc. boosted its holdings in Applied Industrial Technologies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,317 shares of the industrial products company’s stock valued at $127,032,000 after purchasing an additional 3,887 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Applied Industrial Technologies during the 3rd quarter worth about $84,139,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Applied Industrial Technologies by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 366,217 shares of the industrial products company’s stock valued at $87,698,000 after buying an additional 11,529 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Trading Up 2.5 %

Shares of AIT stock opened at $250.79 on Friday. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 3.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The stock has a 50 day simple moving average of $253.61 and a 200-day simple moving average of $241.01.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 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 research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, February 14th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s dividend payout ratio is 18.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIT. 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. KeyCorp upped their price objective on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Bank of America raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Raymond James reiterated an “outperform” rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $291.43.

About Applied Industrial Technologies

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.