Lindenwold Advisors INC Lowers Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Lindenwold Advisors INC reduced its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,431 shares of the industrial products company’s stock after selling 90 shares during the quarter. Lindenwold Advisors INC’s holdings in Applied Industrial Technologies were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of AIT. Larson Financial Group LLC raised its stake in Applied Industrial Technologies by 5,900.0% in the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 118 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Applied Industrial Technologies in the fourth quarter worth approximately $30,000. First Horizon Advisors Inc. grew its holdings in shares of Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 88 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Applied Industrial Technologies in the fourth quarter worth approximately $44,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of 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 worth $49,000 after purchasing an additional 41 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on AIT shares. KeyCorp cut their target price on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Raymond James restated an “outperform” rating and set 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 boosted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.29.

Applied Industrial Technologies Price Performance

AIT opened at $224.48 on Wednesday. Applied Industrial Technologies, Inc. has a 1 year low of $177.68 and a 1 year high of $282.98. The stock has a 50-day moving average price of $250.09 and a 200-day moving average price of $243.71. 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 firm has a market cap of $8.62 billion, a PE ratio of 22.74, a P/E/G ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results 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%. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid 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 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s payout ratio is currently 18.64%.

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.