Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 17.6% during the fourth quarter, Holdings Channel reports. The firm owned 16,490 shares of the industrial products company’s stock after acquiring an additional 2,465 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Applied Industrial Technologies were worth $3,949,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AIT. Zurich Insurance Group Ltd FI purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at $84,139,000. Westfield Capital Management Co. LP purchased a new stake in Applied Industrial Technologies during the third quarter worth about $32,233,000. Fiera Capital Corp lifted its position in shares of Applied Industrial Technologies by 456.3% during the third quarter. Fiera Capital Corp now owns 130,895 shares of the industrial products company’s stock worth $29,207,000 after purchasing an additional 107,365 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $25,518,000. Finally, Eagle Asset Management Inc. purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $13,034,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIT has been the topic of several recent research reports. Bank of America raised shares of 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. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. 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 report on Thursday, January 30th. KeyCorp upped their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer lifted their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $291.43.

Applied Industrial Technologies Trading Down 1.5 %

AIT opened at $229.38 on Friday. 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 one year low of $177.68 and a one year high of $282.98. The company has a market cap of $8.80 billion, a P/E ratio of 23.24, a PEG ratio of 3.14 and a beta of 1.08. The business’s 50-day simple moving average is $252.80 and its 200-day simple moving average is $241.94.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, beating 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%. As a group, 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 $0.46 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a yield of 0.80%. Applied Industrial Technologies’s payout ratio is 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.