California State Teachers Retirement System Has $11.78 Million Stock Holdings in Applied Industrial Technologies, Inc. $AIT

California State Teachers Retirement System raised its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 24.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 44,408 shares of the industrial products company's stock after buying an additional 8,625 shares during the period. California State Teachers Retirement System owned about 0.12% of Applied Industrial Technologies worth $11,782,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Torren Management LLC bought a new position in Applied Industrial Technologies in the fourth quarter valued at about $25,000. Anchor Investment Management LLC bought a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth approximately $34,000. Smartleaf Asset Management LLC grew 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 buying an additional 78 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth approximately $46,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the sale, the director owned 4,951 shares of the company's stock, valued at $1,633,285.39. This trade represents a 43.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Mizuho upped their target price on shares of Applied Industrial Technologies from $330.00 to $355.00 and gave the company an "outperform" rating in a research report on Tuesday, July 21st. DA Davidson initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, June 16th. They issued a "buy" rating and a $380.00 price target on the stock. Wall Street Zen lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. Finally, Oppenheimer upped their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $336.71.

Applied Industrial Technologies Stock Up 1.8%

Applied Industrial Technologies stock opened at $351.59 on Tuesday. The company has a 50 day moving average of $328.48 and a 200-day moving average of $298.62. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $352.76. The stock has a market capitalization of $12.99 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 2.98 and a beta of 0.84.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued 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 is 19.26%.

About Applied Industrial Technologies

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.

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