1,063 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Acquired by Lbp Am Sa

LBP AM SA bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,063 shares of the industrial products company's stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock worth $29,000 after purchasing an additional 118 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Applied Industrial Technologies by 51.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after acquiring an additional 44 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Applied Industrial Technologies by 97.5% during the first quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock worth $36,000 after acquiring an additional 79 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Applied Industrial Technologies during the first quarter worth about $38,000. Finally, Opal Wealth Advisors LLC acquired a new position in Applied Industrial Technologies during the first quarter worth about $41,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Trading Down 0.8%

NYSE:AIT traded down $2.03 on Friday, hitting $253.92. The stock had a trading volume of 344,991 shares, compared to its average volume of 347,922. The company has a quick ratio of 2.51, a current ratio of 3.57 and a debt-to-equity ratio of 0.31. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 3.12 and a beta of 0.91. The company has a fifty day moving average price of $231.65 and a two-hundred day moving average price of $237.61. Applied Industrial Technologies, Inc. has a 1-year low of $188.71 and a 1-year high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $2.57 EPS for the quarter, topping the consensus estimate of $2.40 by $0.17. Applied Industrial Technologies had a net margin of 8.64% and a return on equity of 22.01%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business posted $2.48 EPS. The business's revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

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

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.72%. Applied Industrial Technologies's dividend payout ratio is currently 18.47%.

Analysts Set New Price Targets

AIT has been the topic of a number of recent research reports. Loop Capital lowered their price target on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. KeyCorp lowered their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Raymond James Financial restated an "outperform" rating and set a $250.00 price target (down from $265.00) on shares of Applied Industrial Technologies in a research report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, Applied Industrial Technologies presently has an average rating of "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.