Marshall Wace LLP Acquires Shares of 20,147 Applied Industrial Technologies, Inc. (NYSE:AIT)

Marshall Wace LLP purchased a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,147 shares of the industrial products company's stock, valued at approximately $4,825,000. Marshall Wace LLP owned about 0.05% of Applied Industrial Technologies as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIT. NewEdge Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 835.7% during the fourth quarter. NewEdge Advisors LLC now owns 2,751 shares of the industrial products company's stock valued at $659,000 after acquiring an additional 2,457 shares in the last quarter. EAM Investors LLC purchased a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $5,686,000. United Capital Financial Advisors LLC acquired a new position in Applied Industrial Technologies during the 4th quarter valued at approximately $226,000. Jump Financial LLC purchased a new position in shares of Applied Industrial Technologies in the fourth quarter worth $438,000. Finally, Defined Financial Planning LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $231,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Performance

AIT stock traded up $0.70 during trading on Wednesday, hitting $243.07. 600,294 shares of the company traded hands, compared to its average volume of 293,313. Applied Industrial Technologies, Inc. has a 1 year low of $180.35 and a 1 year high of $282.98. The company has a market cap of $9.33 billion, a PE ratio of 24.63, a P/E/G ratio of 3.14 and a beta of 1.01. The stock's 50-day simple moving average is $229.04 and its 200 day simple moving average is $246.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AIT shares. StockNews.com lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Loop Capital dropped their price target on Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Raymond James restated an "outperform" rating and issued a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Robert W. Baird upped their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, KeyCorp cut 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 report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $287.14.

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.