Goldman Sachs Group Inc. Has $20.44 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Goldman Sachs Group Inc. lessened its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 32.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,338 shares of the industrial products company’s stock after selling 55,622 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Applied Industrial Technologies were worth $20,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Paralel Advisors LLC lifted its position in shares of Applied Industrial Technologies by 1.2% in the third quarter. Paralel Advisors LLC now owns 13,456 shares of the industrial products company’s stock worth $2,080,000 after purchasing an additional 154 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Applied Industrial Technologies in the third quarter worth $251,000. Envestnet Asset Management Inc. lifted its position in shares of Applied Industrial Technologies by 86.8% in the third quarter. Envestnet Asset Management Inc. now owns 44,960 shares of the industrial products company’s stock worth $6,951,000 after purchasing an additional 20,889 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Applied Industrial Technologies in the third quarter worth $269,000. Finally, Stifel Financial Corp lifted its position in shares of Applied Industrial Technologies by 6.0% in the third quarter. Stifel Financial Corp now owns 27,776 shares of the industrial products company’s stock worth $4,294,000 after purchasing an additional 1,582 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the transaction, the vice president now directly owns 22,960 shares in the company, valued at $4,516,461.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AIT has been the topic of a number of research reports. KeyCorp boosted their price objective on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Oppenheimer began 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 target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $201.00.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $191.47 on Wednesday. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average price is $189.96 and its two-hundred day moving average price is $185.03. Applied Industrial Technologies, Inc. has a 1 year low of $137.02 and a 1 year high of $201.76. The firm has a market capitalization of $7.39 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.96 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company earned $2.38 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.77%. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

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.