Williamson Legacy Group LLC Acquires 193 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Williamson Legacy Group LLC raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,971 shares of the industrial products company’s stock after purchasing an additional 193 shares during the quarter. Williamson Legacy Group LLC’s holdings in Applied Industrial Technologies were worth $951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $30,000. First Horizon Advisors Inc. raised 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 valued at $38,000 after acquiring an additional 88 shares in the last quarter. Parkside Financial Bank & Trust raised 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 valued at $49,000 after acquiring an additional 41 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $84,000. Finally, Versant Capital Management Inc raised its holdings in shares of Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 55 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. KeyCorp lifted their price objective on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Oppenheimer lifted their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Raymond James reiterated an “outperform” rating and issued a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $291.43.

Applied Industrial Technologies Price Performance

AIT opened at $250.79 on Friday. The business’s 50-day moving average is $253.61 and its two-hundred day moving average is $241.01. Applied Industrial Technologies, Inc. has a 1 year low of $177.68 and a 1 year high of $282.98. 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 capitalization of $9.62 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly 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%. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.46 per share. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.73%. Applied Industrial Technologies’s payout ratio is presently 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.