Victory Capital Management Inc. Sells 150,274 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Victory Capital Management Inc. lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 27.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 400,780 shares of the industrial products company's stock after selling 150,274 shares during the period. Victory Capital Management Inc. owned 1.04% of Applied Industrial Technologies worth $69,211,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AIT. Meritage Portfolio Management raised its stake in shares of Applied Industrial Technologies by 2.0% in the fourth quarter. Meritage Portfolio Management now owns 3,638 shares of the industrial products company's stock valued at $628,000 after buying an additional 73 shares during the period. Pinnacle Associates Ltd. lifted its holdings in Applied Industrial Technologies by 0.8% during the third quarter. Pinnacle Associates Ltd. now owns 9,933 shares of the industrial products company's stock valued at $1,536,000 after purchasing an additional 77 shares during the last quarter. Blue Trust Inc. boosted its position in Applied Industrial Technologies by 0.8% during the fourth quarter. Blue Trust Inc. now owns 11,101 shares of the industrial products company's stock worth $1,917,000 after purchasing an additional 86 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Applied Industrial Technologies by 6.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,652 shares of the industrial products company's stock worth $255,000 after purchasing an additional 93 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its position in shares of Applied Industrial Technologies by 4.8% in the third quarter. Evergreen Capital Management LLC now owns 2,054 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 95 shares during the period. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

NYSE AIT traded up $1.35 during trading on Friday, reaching $185.98. The company's stock had a trading volume of 233,909 shares, compared to its average volume of 277,210. The firm has a fifty day moving average of $189.50 and a 200 day moving average of $176.37. Applied Industrial Technologies, Inc. has a one year low of $122.24 and a one year high of $201.76. The stock has a market capitalization of $7.18 billion, a PE ratio of 19.49, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the company earned $2.38 EPS. The business's quarterly revenue was down 2.8% compared to the same quarter last year. Analysts expect that Applied Industrial Technologies, Inc. will post 9.6 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Tuesday, May 14th. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 15.51%.

Analyst Upgrades and Downgrades

AIT has been the subject of a number of recent research reports. 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 research note on Thursday, April 11th. Oppenheimer initiated coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They set an "outperform" rating and a $235.00 target price for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of "Buy" and a consensus price target of $201.00.

Applied Industrial Technologies Company 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.