Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lowered its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 24.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,990 shares of the industrial products company’s stock after selling 13,615 shares during the period. Applied Industrial Technologies comprises 1.7% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 7th biggest position. Lisanti Capital Growth LLC owned approximately 0.11% of Applied Industrial Technologies worth $7,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meritage Portfolio Management raised its stake in Applied Industrial Technologies by 2.0% in the fourth quarter. Meritage Portfolio Management now owns 3,638 shares of the industrial products company’s stock valued at $628,000 after buying an additional 73 shares in the last quarter. Blue Trust Inc. raised its position in shares of Applied Industrial Technologies by 0.8% during the 4th quarter. Blue Trust Inc. now owns 11,101 shares of the industrial products company’s stock worth $1,917,000 after acquiring an additional 86 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Applied Industrial Technologies by 6.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,652 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 93 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Applied Industrial Technologies by 4.8% during the third quarter. Evergreen Capital Management LLC now owns 2,054 shares of the industrial products company’s stock worth $318,000 after purchasing an additional 95 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its holdings in Applied Industrial Technologies by 3.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,846 shares of the industrial products company’s stock valued at $837,000 after purchasing an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

NYSE AIT traded up $3.77 on Monday, reaching $189.75. The stock had a trading volume of 443,932 shares, compared to its average volume of 337,979. The stock has a market cap of $7.32 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. Applied Industrial Technologies, Inc. has a 12-month low of $122.24 and a 12-month high of $201.76. The business’s 50-day moving average price is $189.54 and its 200 day moving average price is $176.73. 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 announced 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. 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 analysts’ expectations of $1.13 billion. During the same period in the previous year, the company posted $2.38 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.6 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

Analyst Ratings Changes

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

About Applied Industrial Technologies

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.