Wilkinson Global Asset Management LLC Takes $1.16 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Wilkinson Global Asset Management LLC purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,840 shares of the industrial products company’s stock, valued at approximately $1,159,000.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC raised its position in Applied Industrial Technologies by 156.6% during the 3rd quarter. Barclays PLC now owns 74,109 shares of the industrial products company’s stock worth $16,537,000 after buying an additional 45,224 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Applied Industrial Technologies during the third quarter worth about $32,233,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Applied Industrial Technologies during the third quarter worth about $3,591,000. Janney Montgomery Scott LLC lifted its position in Applied Industrial Technologies by 126.0% in the third quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company’s stock valued at $981,000 after purchasing an additional 2,451 shares during the period. Finally, Raymond James & Associates boosted its holdings in Applied Industrial Technologies by 19.4% in the 3rd quarter. Raymond James & Associates now owns 14,612 shares of the industrial products company’s stock valued at $3,260,000 after purchasing an additional 2,371 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Up 1.5 %

Shares of NYSE AIT opened at $269.40 on Wednesday. The firm’s 50-day moving average is $254.29 and its two-hundred day moving average is $237.99. The company has a market capitalization of $10.34 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 3.43 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 12-month low of $177.68 and a 12-month high of $282.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.87 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.46 dividend. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 14th. This represents a $1.84 annualized dividend and a yield of 0.68%. Applied Industrial Technologies’s payout ratio is presently 18.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Mizuho started coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price for the company. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Oppenheimer increased their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $291.43.

Insider Buying and Selling at Applied Industrial Technologies

In other news, Director Mary Dean Hall sold 2,200 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the sale, the director now owns 3,462 shares in the company, valued at $952,326.96. This trade represents a 38.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the transaction, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. The trade was 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 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.