Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,629 shares of the industrial products company’s stock after purchasing an additional 3,270 shares during the period. Sei Investments Co.’s holdings in Applied Industrial Technologies were worth $20,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AIT. Larson Financial Group LLC increased its position 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 acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in Applied Industrial Technologies in the 4th quarter valued at $44,000. Parkside Financial Bank & Trust boosted its stake in Applied Industrial Technologies by 25.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 41 shares during the period. Finally, Millburn Ridgefield Corp purchased a new position in Applied Industrial Technologies during the 3rd quarter worth $84,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $233.16 on Thursday. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $247.93 and a 200-day simple moving average of $244.79. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 3.14 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.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. On average, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current 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 paid a $0.46 dividend. This is a boost 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 annualized dividend and a dividend yield of 0.79%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIT. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. KeyCorp decreased their price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Raymond James reissued an “outperform” rating and issued a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Finally, Robert W. Baird increased 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.