Capital World Investors Has $74.55 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Capital World Investors decreased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 311,309 shares of the industrial products company’s stock after selling 486 shares during the period. Capital World Investors owned approximately 0.81% of Applied Industrial Technologies worth $74,549,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Applied Industrial Technologies during the fourth quarter valued at about $129,690,000. First Trust Advisors LP lifted its position in shares of Applied Industrial Technologies by 50.0% in the 4th quarter. First Trust Advisors LP now owns 404,784 shares of the industrial products company’s stock worth $96,934,000 after acquiring an additional 134,975 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth approximately $25,518,000. Invesco Ltd. increased its position in shares of Applied Industrial Technologies by 7.2% during the fourth quarter. Invesco Ltd. now owns 1,271,356 shares of the industrial products company’s stock valued at $304,452,000 after purchasing an additional 85,270 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at $16,933,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AIT shares. Raymond James reissued an “outperform” rating and issued a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Loop Capital decreased their price objective on Applied Industrial Technologies from $320.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. KeyCorp dropped 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. Finally, Robert W. Baird upped their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.14.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $214.36 on Tuesday. The stock’s fifty day moving average is $232.72 and its 200-day moving average is $245.73. 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 52 week low of $177.68 and a 52 week high of $282.98. The stock has a market capitalization of $8.23 billion, a PE ratio of 21.72, a PEG ratio of 3.14 and a beta of 1.01.

Applied Industrial Technologies (NYSE:AIT) last announced 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%. 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 company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.46 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) 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.