WCM Investment Management LLC Increases Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

WCM Investment Management LLC lifted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,454 shares of the industrial products company's stock after buying an additional 8,845 shares during the period. WCM Investment Management LLC owned approximately 0.31% of Applied Industrial Technologies worth $21,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fox Run Management L.L.C. purchased a new position in shares of Applied Industrial Technologies during the third quarter worth $336,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Applied Industrial Technologies by 19.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company's stock worth $87,879,000 after purchasing an additional 83,585 shares during the last quarter. Measured Wealth Private Client Group LLC raised its holdings in shares of Applied Industrial Technologies by 7.0% during the third quarter. Measured Wealth Private Client Group LLC now owns 4,707 shares of the industrial products company's stock worth $728,000 after purchasing an additional 307 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Applied Industrial Technologies by 0.9% in the third quarter. Los Angeles Capital Management LLC now owns 39,547 shares of the industrial products company's stock valued at $6,114,000 after buying an additional 364 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Applied Industrial Technologies by 494.2% in the third quarter. Illinois Municipal Retirement Fund now owns 26,013 shares of the industrial products company's stock valued at $4,022,000 after buying an additional 21,635 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 2,000 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the transaction, the vice president now directly owns 57,155 shares of the company's stock, valued at $10,421,642.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.20% of the stock is owned by insiders.

Applied Industrial Technologies Trading Down 0.9 %

Shares of Applied Industrial Technologies stock traded down $1.64 on Friday, reaching $191.09. The company had a trading volume of 210,567 shares, compared to its average volume of 641,620. The firm's 50 day moving average price is $189.96 and its two-hundred day moving average price is $173.59. The firm has a market cap of $7.39 billion, a PE ratio of 20.05, a PEG ratio of 2.01 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 52-week low of $122.24 and a 52-week high of $201.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.11 by $0.13. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the business earned $2.05 EPS. Applied Industrial Technologies's quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.49 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 0.77%. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 15.53%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AIT shares. Oppenheimer started coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an "outperform" rating and a $235.00 price objective for the company. KeyCorp lifted their price objective on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Industrial Technologies has an average rating of "Buy" and an average price target of $201.00.

About Applied Industrial Technologies

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.