Guggenheim Capital LLC lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) by 49.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,396 shares of the industrial products company's stock after acquiring an additional 1,446 shares during the period. Guggenheim Capital LLC's holdings in Applied Industrial Technologies were worth $452,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in AIT. Wipfli Financial Advisors LLC acquired a new stake in Applied Industrial Technologies during the 3rd quarter valued at $31,000. Ellevest Inc. boosted its holdings in shares of Applied Industrial Technologies by 30.7% in the third quarter. Ellevest Inc. now owns 370 shares of the industrial products company's stock worth $38,000 after buying an additional 87 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Applied Industrial Technologies by 252.8% during the third quarter. Quadrant Capital Group LLC now owns 1,083 shares of the industrial products company's stock worth $111,000 after purchasing an additional 776 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Applied Industrial Technologies by 9.9% during the third quarter. Van ECK Associates Corp now owns 1,114 shares of the industrial products company's stock worth $114,000 after purchasing an additional 100 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Applied Industrial Technologies in the third quarter valued at approximately $154,000. Institutional investors and hedge funds own 92.02% of the company's stock.
Get Applied Industrial Technologies alerts:Analysts Set New Price Targets
A number of brokerages recently issued reports on AIT. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $138.00 to $160.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 24th. Loop Capital upped their target price on shares of Applied Industrial Technologies from $150.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, January 27th. KeyCorp upped their target price on shares of Applied Industrial Technologies from $138.00 to $162.00 and gave the stock an "overweight" rating in a report on Friday, January 27th. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a "strong-buy" rating to a "buy" rating in a report on Wednesday, February 1st.
Insider Activity at Applied Industrial Technologies
In other news, CEO Neil A. Schrimsher sold 4,186 shares of the company's stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $145.00, for a total transaction of $606,970.00. Following the transaction, the chief executive officer now directly owns 339,744 shares of the company's stock, valued at $49,262,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Neil A. Schrimsher sold 4,186 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $145.00, for a total transaction of $606,970.00. Following the sale, the chief executive officer now owns 339,744 shares of the company's stock, valued at approximately $49,262,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil A. Schrimsher sold 21,526 shares of the firm's stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $145.06, for a total value of $3,122,561.56. Following the completion of the sale, the chief executive officer now directly owns 318,218 shares in the company, valued at approximately $46,160,703.08. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
Applied Industrial Technologies Price Performance
NYSE:AIT opened at $138.80 on Friday. Applied Industrial Technologies, Inc. has a 1-year low of $88.09 and a 1-year high of $149.42. The company has a current ratio of 3.18, a quick ratio of 2.01 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $135.38 and a 200 day simple moving average of $123.73. The stock has a market capitalization of $5.36 billion, a PE ratio of 17.82 and a beta of 1.19.
Applied Industrial Technologies (NYSE:AIT – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.34. Applied Industrial Technologies had a net margin of 7.32% and a return on equity of 25.58%. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $996.44 million. During the same period in the previous year, the business posted $1.46 earnings per share. The company's revenue for the quarter was up 22.1% compared to the same quarter last year. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 8.34 EPS for the current fiscal year.
Applied Industrial Technologies Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Tuesday, February 14th. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.34. Applied Industrial Technologies's payout ratio is currently 17.97%.
About Applied Industrial Technologies
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Applied Industrial Technologies, Inc engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution, and Fluid Power & Flow Control Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers.
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