Corient Private Wealth LLC Sells 69 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Corient Private Wealth LLC lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,229 shares of the industrial products company’s stock after selling 69 shares during the quarter. Corient Private Wealth LLC’s holdings in Applied Industrial Technologies were worth $773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIT. Raymond James Trust N.A. bought a new position in Applied Industrial Technologies in the 3rd quarter worth $279,000. Citigroup Inc. raised its stake in Applied Industrial Technologies by 123.0% in the third quarter. Citigroup Inc. now owns 40,048 shares of the industrial products company’s stock worth $8,936,000 after buying an additional 22,089 shares in the last quarter. Townsquare Capital LLC purchased a new stake in Applied Industrial Technologies in the third quarter worth about $226,000. Glenmede Trust Co. NA boosted its position in Applied Industrial Technologies by 11.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,928 shares of the industrial products company’s stock valued at $876,000 after acquiring an additional 403 shares in the last quarter. Finally, Isthmus Partners LLC purchased a new position in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $714,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

AIT has been the subject of a number of research analyst reports. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Raymond James restated an “outperform” rating and set a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Robert W. Baird increased their price target 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. Finally, KeyCorp dropped their price objective on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $284.29.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $232.79 on Friday. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. 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 one year low of $177.68 and a one year high of $282.98. The company’s 50-day moving average is $247.48 and its 200 day moving average is $244.70.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 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%. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.46 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.79%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 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.