Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,624 shares of the industrial products company’s stock after buying an additional 73 shares during the period. Janus Henderson Group PLC owned 0.08% of Applied Industrial Technologies worth $7,097,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AIT. Barclays PLC lifted 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 during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Applied Industrial Technologies by 29.7% in the 4th quarter. Park Avenue Securities LLC now owns 1,411 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 323 shares during the last quarter. Mountain Pacific Investment Advisers LLC lifted its stake in shares of Applied Industrial Technologies by 36.6% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 46,155 shares of the industrial products company’s stock valued at $11,053,000 after purchasing an additional 12,364 shares during the last quarter. Sheets Smith Wealth Management lifted its stake in shares of Applied Industrial Technologies by 3.2% in the 4th quarter. Sheets Smith Wealth Management now owns 5,067 shares of the industrial products company’s stock valued at $1,213,000 after purchasing an additional 155 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Applied Industrial Technologies by 12.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,925 shares of the industrial products company’s stock valued at $1,180,000 after purchasing an additional 529 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

AIT stock opened at $236.01 on Friday. The business’s fifty day moving average price is $226.47 and its 200 day moving average price is $245.86. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. Applied Industrial Technologies, Inc. has a 12-month low of $181.35 and a 12-month high of $282.98. The company has a market capitalization of $8.99 billion, a PE ratio of 23.91, a P/E/G ratio of 3.14 and a beta of 1.00.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.17. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned $2.48 EPS. Applied Industrial Technologies’s revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that authorizes the company to buyback 1,500,000 outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.84 annualized dividend and a yield of 0.78%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.47%.

Analysts Set New Price Targets

Several brokerages have recently commented on AIT. Raymond James reaffirmed an “outperform” rating and issued a $250.00 price target (down previously from $265.00) on shares of Applied Industrial Technologies in a research note on Friday, May 2nd. KeyCorp decreased their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Loop Capital cut their price objective on Applied Industrial Technologies from $320.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Robert W. Baird boosted their price objective on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $285.00.

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.