California Public Employees Retirement System Has $11.09 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

California Public Employees Retirement System raised its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 11.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 64,203 shares of the industrial products company’s stock after purchasing an additional 6,404 shares during the period. California Public Employees Retirement System owned 0.17% of Applied Industrial Technologies worth $11,087,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank raised its stake in Applied Industrial Technologies by 963.2% during the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock worth $31,000 after buying an additional 183 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Applied Industrial Technologies in the 3rd quarter worth about $40,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $54,000. Legacy Financial Group LLC bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $52,000. Finally, Riverwater Partners LLC bought a new stake in shares of Applied Industrial Technologies during the 4th quarter valued at about $212,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Activity

In related news, VP Warren E. Hoffner III sold 2,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total transaction of $364,680.00. Following the completion of the sale, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AIT has been the topic of several recent analyst reports. Oppenheimer initiated coverage on Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target on the stock. KeyCorp increased their target price on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $201.00.

Applied Industrial Technologies Trading Down 1.4 %

NYSE AIT opened at $180.67 on Thursday. Applied Industrial Technologies, Inc. has a 52 week low of $122.24 and a 52 week high of $201.76. The business has a 50 day moving average price of $189.61 and a 200-day moving average price of $176.05. The company has a quick ratio of 2.70, a current ratio of 3.77 and a debt-to-equity ratio of 0.34. The company has a market cap of $6.97 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.92 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last released 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. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.38 earnings per share. As a group, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.6 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.51%.

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.