Citizens Financial Group Inc. RI bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 1,706 shares of the industrial products company’s stock, valued at approximately $577,000.
Several other large investors have also recently bought and sold shares of AIT. Torren Management LLC acquired a new stake in Applied Industrial Technologies in the fourth quarter valued at $25,000. Global Retirement Partners LLC acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth about $37,000. Anchor Investment Management LLC acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth about $32,000. Smartleaf Asset Management LLC boosted its position in shares of Applied Industrial Technologies by 78.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 78 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.
Applied Industrial Technologies Stock Performance
NYSE AIT opened at $346.76 on Thursday. The company has a fifty day moving average of $339.19 and a two-hundred day moving average of $305.46. The company has a market capitalization of $12.73 billion, a PE ratio of 31.64, a P/E/G ratio of 2.85 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 1 year low of $238.34 and a 1 year high of $374.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75.
Applied Industrial Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 18.61%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on AIT. Robert W. Baird raised their target price on Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Tuesday, July 21st. Oppenheimer increased their price target on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Mizuho boosted their price objective on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $384.29.
Check Out Our Latest Analysis on Applied Industrial Technologies
Insider Buying and Selling
In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the transaction, the director owned 4,951 shares of the company’s stock, valued at $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.
Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.
Featured Articles
- Five stocks we like better than Applied Industrial Technologies
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Want to see what other hedge funds are holding AIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report).
Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
