Consolidated Planning Corp Acquires New Shares in Applied Industrial Technologies, Inc. (NYSE:AIT)

Consolidated Planning Corp purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,209 shares of the industrial products company’s stock, valued at approximately $209,000.

A number of other large investors also recently added to or reduced their stakes in AIT. Huntington National Bank raised its stake in shares of Applied Industrial Technologies by 963.2% in the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 183 shares in the last quarter. NBC Securities Inc. purchased a new position in Applied Industrial Technologies in the third quarter valued at $40,000. McGlone Suttner Wealth Management Inc. purchased a new position in Applied Industrial Technologies in the fourth quarter valued at $54,000. Legacy Financial Group LLC purchased a new position in Applied Industrial Technologies in the third quarter valued at $52,000. Finally, GAMMA Investing LLC purchased a new position in Applied Industrial Technologies in the fourth quarter valued at $86,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on AIT shares. Oppenheimer assumed coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price on the stock. KeyCorp increased their target price on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $201.00.

Applied Industrial Technologies Trading Up 1.1 %

Shares of Applied Industrial Technologies stock traded up $1.95 during mid-day trading on Friday, hitting $180.89. 448,122 shares of the stock were exchanged, compared to its average volume of 245,005. Applied Industrial Technologies, Inc. has a twelve month low of $122.24 and a twelve month high of $201.76. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.89 and a beta of 1.08. The company has a 50-day simple moving average of $189.87 and a 200 day simple moving average of $175.59. The company has a current ratio of 3.77, a quick ratio of 2.59 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the company earned $2.38 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts forecast that Applied Industrial Technologies, Inc. will post 9.6 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio is 15.51%.

Insider Activity

In other news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the sale, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

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.