Loomis Sayles & Co. L P Sells 6,918 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Loomis Sayles & Co. L P lessened its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 236,799 shares of the industrial products company’s stock after selling 6,918 shares during the period. Loomis Sayles & Co. L P owned about 0.62% of Applied Industrial Technologies worth $56,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Larson Financial Group LLC lifted its holdings in Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock worth $29,000 after buying an additional 118 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $30,000. SBI Securities Co. Ltd. bought a new stake in Applied Industrial Technologies during the fourth quarter valued at about $44,000. Parkside Financial Bank & Trust grew its stake in Applied Industrial Technologies by 25.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 41 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new position in Applied Industrial Technologies in the third quarter worth about $84,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Trading Down 1.8 %

Shares of NYSE:AIT opened at $233.16 on Thursday. 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. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 3.14 and a beta of 1.08. The business has a 50-day moving average price of $247.93 and a 200-day moving average price of $244.79.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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. This represents a $1.84 annualized dividend and a yield of 0.79%. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 18.64%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIT. Robert W. Baird boosted their price objective 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. KeyCorp reduced their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Raymond James reiterated an “outperform” rating and issued a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $284.29.

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.