Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Ifrah Financial Services Inc.

Ifrah Financial Services Inc. lessened its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,751 shares of the industrial products company’s stock after selling 319 shares during the period. Ifrah Financial Services Inc.’s holdings in Applied Industrial Technologies were worth $993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank raised its holdings in shares of Applied Industrial Technologies by 963.2% during the 3rd quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after buying an additional 183 shares during the period. NBC Securities Inc. acquired a new stake in Applied Industrial Technologies in the third quarter valued at approximately $40,000. Legacy Financial Group LLC purchased a new stake in shares of Applied Industrial Technologies during the third quarter valued at approximately $52,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Applied Industrial Technologies during the fourth quarter worth $54,000. Finally, GAMMA Investing LLC purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at $86,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT traded up $1.35 during midday trading on Friday, hitting $185.98. The company’s stock had a trading volume of 233,909 shares, compared to its average volume of 277,210. The firm has a market cap of $7.18 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.94 and a beta of 1.10. Applied Industrial Technologies, Inc. has a 1-year low of $122.24 and a 1-year high of $201.76. The firm’s fifty day moving average price is $189.50 and its 200-day moving average price is $176.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.08. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. Applied Industrial Technologies’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 earnings per share. On average, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.6 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Tuesday, May 14th. Applied Industrial Technologies’s payout ratio is 15.51%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AIT shares. Oppenheimer began coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price objective on the stock. KeyCorp boosted their price target on 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 research analysts have rated the stock with a buy rating, According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Buy” and a consensus price target of $201.00.

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.