Los Angeles Capital Management LLC Trims Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Los Angeles Capital Management LLC lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 32,399 shares of the industrial products company’s stock after selling 248 shares during the period. Los Angeles Capital Management LLC owned about 0.08% of Applied Industrial Technologies worth $6,400,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Applied Industrial Technologies by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock valued at $875,912,000 after acquiring an additional 14,858 shares during the period. FMR LLC boosted its holdings in Applied Industrial Technologies by 38.5% in the 3rd quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock worth $251,329,000 after buying an additional 451,876 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Applied Industrial Technologies by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock worth $163,575,000 after buying an additional 21,276 shares during the last quarter. Invesco Ltd. boosted its holdings in Applied Industrial Technologies by 15.0% in the 3rd quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company’s stock worth $116,099,000 after buying an additional 98,144 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Applied Industrial Technologies by 5.4% in the 4th quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock worth $108,009,000 after buying an additional 32,282 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Applied Industrial Technologies Trading Down 0.2 %

AIT opened at $187.62 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70. The company’s 50 day simple moving average is $189.91 and its two-hundred day simple moving average is $184.23. Applied Industrial Technologies, Inc. has a 1-year low of $134.83 and a 1-year high of $201.76. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.95 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted $2.38 EPS. The business’s revenue was down 2.8% on a year-over-year basis. Analysts expect that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Tuesday, May 14th. Applied Industrial Technologies’s payout ratio is presently 15.51%.

Insider Activity

In other news, VP Jason W. Vasquez sold 650 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $196.71, for a total transaction of $127,861.50. Following the sale, the vice president now owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.20% of the company’s stock.

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.