Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 12.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 49,073 shares of the industrial products company's stock after selling 6,946 shares during the period. Russell Investments Group Ltd. owned about 0.13% of Applied Industrial Technologies worth $8,498,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $336,000. Allspring Global Investments Holdings LLC lifted its position in Applied Industrial Technologies by 19.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company's stock valued at $87,879,000 after acquiring an additional 83,585 shares in the last quarter. Meritage Portfolio Management lifted its position in Applied Industrial Technologies by 2.0% in the 4th quarter. Meritage Portfolio Management now owns 3,638 shares of the industrial products company's stock valued at $628,000 after acquiring an additional 73 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Applied Industrial Technologies by 0.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 39,547 shares of the industrial products company's stock valued at $6,114,000 after acquiring an additional 364 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in Applied Industrial Technologies by 494.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 26,013 shares of the industrial products company's stock valued at $4,022,000 after acquiring an additional 21,635 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT traded up $4.18 during midday trading on Tuesday, hitting $193.82. The company had a trading volume of 304,386 shares, compared to its average volume of 337,962. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.94 and a beta of 1.10. Applied Industrial Technologies, Inc. has a 12-month low of $122.24 and a 12-month high of $201.76. The company has a fifty day moving average of $189.63 and a two-hundred day moving average of $177.01.

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

Applied Industrial Technologies Announces Dividend

The firm 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 $0.37 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.76%. Applied Industrial Technologies's payout ratio is presently 15.51%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AIT shares. Oppenheimer started coverage on Applied Industrial Technologies in a research report on Tuesday, April 2nd. They issued an "outperform" rating and a $235.00 price objective on the stock. KeyCorp boosted their target price 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of "Buy" and an average 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.