Envestnet Portfolio Solutions Inc. Trims Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Envestnet Portfolio Solutions Inc. trimmed its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,367 shares of the industrial products company’s stock after selling 135 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Applied Industrial Technologies were worth $327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AIT. Arizona State Retirement System increased its holdings in shares of Applied Industrial Technologies by 0.4% during the 4th quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company’s stock valued at $2,672,000 after purchasing an additional 40 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Applied Industrial Technologies by 25.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock valued at $49,000 after buying an additional 41 shares during the period. Versant Capital Management Inc increased its holdings in Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after buying an additional 55 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Applied Industrial Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,206 shares of the industrial products company’s stock worth $289,000 after acquiring an additional 64 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Applied Industrial Technologies by 3.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 68 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Down 0.0 %

Shares of AIT opened at $232.79 on Friday. The firm’s fifty day moving average is $247.48 and its two-hundred day moving average is $244.70. The stock has a market cap of $8.93 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. 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 announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.46 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.79%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 18.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Robert W. Baird upped their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and set a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, KeyCorp decreased 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 report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $284.29.

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.