M&T Bank Corp Has $208,000 Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

M&T Bank Corp reduced its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 868 shares of the industrial products company’s stock after selling 145 shares during the period. M&T Bank Corp’s holdings in Applied Industrial Technologies were worth $208,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its position in shares of Applied Industrial Technologies by 156.6% during the 3rd quarter. Barclays PLC now owns 74,109 shares of the industrial products company’s stock valued at $16,537,000 after acquiring an additional 45,224 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Applied Industrial Technologies during the 3rd quarter valued at about $32,233,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Applied Industrial Technologies during the 3rd quarter valued at about $3,591,000. Janney Montgomery Scott LLC lifted its holdings in Applied Industrial Technologies by 126.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company’s stock valued at $981,000 after purchasing an additional 2,451 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Applied Industrial Technologies by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company’s stock valued at $48,540,000 after purchasing an additional 9,667 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIT. Raymond James reissued an “outperform” rating and set a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Bank of America raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, KeyCorp boosted their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Two equities 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, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average target price of $291.43.

Applied Industrial Technologies Stock Up 2.7 %

Shares of NYSE AIT opened at $224.90 on Friday. The stock has a market cap of $8.63 billion, a P/E ratio of 22.79, a P/E/G ratio of 3.14 and a beta of 1.08. The firm has a 50 day moving average price of $251.03 and a 200 day moving average price of $243.13. 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.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Friday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s dividend payout ratio is 18.64%.

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.