Strs Ohio Has $6.94 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Strs Ohio lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.0% in the 4th quarter, Holdings Channel reports. The firm owned 40,200 shares of the industrial products company’s stock after buying an additional 400 shares during the quarter. Strs Ohio’s holdings in Applied Industrial Technologies were worth $6,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Applied Industrial Technologies by 7.0% in the 1st quarter. BlackRock Inc. now owns 7,001,286 shares of the industrial products company’s stock valued at $718,751,000 after purchasing an additional 459,302 shares during the last quarter. Vanguard Group Inc. lifted its position in Applied Industrial Technologies by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,863,708 shares of the industrial products company’s stock worth $499,893,000 after acquiring an additional 136,174 shares during the last quarter. FMR LLC lifted its position in Applied Industrial Technologies by 38.5% during the 3rd quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock worth $251,329,000 after acquiring an additional 451,876 shares during the last quarter. State Street Corp lifted its position in Applied Industrial Technologies by 0.7% during the 3rd quarter. State Street Corp now owns 1,383,105 shares of the industrial products company’s stock worth $142,156,000 after acquiring an additional 10,144 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Applied Industrial Technologies by 15.0% during the 3rd quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company’s stock worth $116,099,000 after acquiring an additional 98,144 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $184.27 on Thursday. The stock has a market cap of $7.13 billion, a P/E ratio of 19.34, a PEG ratio of 2.00 and a beta of 1.08. The company’s 50-day simple moving average is $190.32 and its 200 day simple moving average is $174.24. Applied Industrial Technologies, Inc. has a twelve month low of $122.24 and a twelve month high of $201.76. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.13. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. As a group, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.49 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.80%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.35. Applied Industrial Technologies’s payout ratio is presently 15.53%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AIT shares. Oppenheimer started coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 price objective on the stock. 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 report on Thursday, April 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $201.00.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the sale, the vice president now directly owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

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.