1,000 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Purchased by Fairvoy Private Wealth LLC

Fairvoy Private Wealth LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,000 shares of the industrial products company’s stock, valued at approximately $239,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $34,000. First Horizon Advisors Inc. increased its position in Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares during the period. UMB Bank n.a. raised its holdings in shares of Applied Industrial Technologies by 68.1% in the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 77 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $84,000. Finally, Versant Capital Management Inc boosted its stake in shares of Applied Industrial Technologies by 16.8% during the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 55 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. KeyCorp boosted their price objective on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird boosted their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, Loop Capital increased their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.43.

Insider Activity at Applied Industrial Technologies

In related news, Director Mary Dean Hall sold 2,200 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares of the company’s stock, valued at $952,326.96. This trade represents a 38.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the transaction, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This represents a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is owned by insiders.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $262.39 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week high of $282.98. The company has a market cap of $10.07 billion, a PE ratio of 26.58, a P/E/G ratio of 3.33 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. The business has a 50-day simple moving average of $255.93 and a two-hundred day simple moving average of $235.11.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 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%. As a group, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.87 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, February 14th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.70%. Applied Industrial Technologies’s payout ratio is 14.99%.

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.