Boston Trust Walden Corp Lowers Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Boston Trust Walden Corp lessened its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 502,783 shares of the industrial products company’s stock after selling 73,172 shares during the quarter. Applied Industrial Technologies makes up 0.8% of Boston Trust Walden Corp’s holdings, making the stock its 24th biggest position. Boston Trust Walden Corp’s holdings in Applied Industrial Technologies were worth $120,402,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Barclays PLC increased its stake in shares of Applied Industrial Technologies by 156.6% in the 3rd quarter. Barclays PLC now owns 74,109 shares of the industrial products company’s stock valued at $16,537,000 after purchasing an additional 45,224 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $32,233,000. Sanctuary Advisors LLC purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at approximately $1,279,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $3,591,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Applied Industrial Technologies by 126.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company’s stock valued at $981,000 after buying an additional 2,451 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 1.3 %

AIT opened at $260.24 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The company’s 50 day simple moving average is $257.05 and its two-hundred day simple moving average is $233.91. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 3.33 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 1-year low of $176.32 and a 1-year 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 for the quarter, topping 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%. Analysts expect that Applied Industrial Technologies, Inc. will post 9.87 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.46 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 14.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AIT shares. Mizuho started coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective for the company. Loop Capital upped their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Raymond James reiterated an “outperform” rating and issued a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday. Robert W. Baird increased their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday. Finally, KeyCorp lifted their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $291.43.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the transaction, the director now owns 3,462 shares of the company’s stock, valued at approximately $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by company 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.