Xponance Inc. Has $1.31 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Xponance Inc. lifted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,464 shares of the industrial products company’s stock after buying an additional 272 shares during the period. Xponance Inc.’s holdings in Applied Industrial Technologies were worth $1,308,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AIT. Zurich Insurance Group Ltd FI acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth $84,139,000. Westfield Capital Management Co. LP acquired a new position in Applied Industrial Technologies in the 3rd quarter worth about $32,233,000. Raymond James Financial Inc. acquired a new position in Applied Industrial Technologies in the 4th quarter worth about $25,518,000. Eagle Asset Management Inc. acquired a new position in Applied Industrial Technologies in the 3rd quarter worth about $13,034,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Applied Industrial Technologies in the 3rd quarter worth about $12,897,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 1.6 %

NYSE AIT opened at $224.83 on Friday. The business’s 50-day moving average price is $248.92 and its two-hundred day moving average price is $243.96. Applied Industrial Technologies, Inc. has a 12 month low of $177.68 and a 12 month high of $282.98. The firm has a market capitalization of $8.63 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT) last announced its 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 return on equity of 22.37% and a net margin of 8.62%. On average, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced 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 is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.82%. Applied Industrial Technologies’s dividend payout ratio is presently 18.64%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. KeyCorp lowered their target price on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, March 17th. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Raymond James reaffirmed an “outperform” rating and issued a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Bank of America raised 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 report on Tuesday, November 26th. Finally, 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 report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average 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.