Hartford Investment Management Co. bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,150 shares of the industrial products company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Riverhead Capital Management LLC grew its holdings in Applied Industrial Technologies by 57.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock valued at $195,000 after buying an additional 1,198 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Applied Industrial Technologies by 7.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after buying an additional 226 shares during the last quarter. Paradigm Asset Management Co. LLC grew its holdings in Applied Industrial Technologies by 59.1% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 3,500 shares of the industrial products company’s stock valued at $207,000 after buying an additional 1,300 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Applied Industrial Technologies in the 3rd quarter valued at approximately $212,000. Finally, Pacad Investment Ltd. grew its holdings in Applied Industrial Technologies by 28.6% in the 2nd quarter. Pacad Investment Ltd. now owns 3,600 shares of the industrial products company’s stock valued at $213,000 after buying an additional 800 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

AIT has been the topic of a number of research analyst reports. Zacks Investment Research raised Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Monday, August 14th. BidaskClub raised Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Finally, ValuEngine raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $66.00.

Shares of Applied Industrial Technologies, Inc. (AIT) opened at $64.05 on Wednesday. Applied Industrial Technologies, Inc. has a fifty-two week low of $54.00 and a fifty-two week high of $70.05. The firm has a market capitalization of $2,511.34, a P/E ratio of 21.57, a PEG ratio of 1.69 and a beta of 0.93. The company has a current ratio of 3.13, a quick ratio of 1.83 and a debt-to-equity ratio of 0.37.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a return on equity of 16.25% and a net margin of 5.29%. The company had revenue of $680.70 million for the quarter, compared to analyst estimates of $668.18 million. During the same quarter last year, the firm earned $0.70 EPS. Applied Industrial Technologies’s revenue for the quarter was up 8.9% compared to the same quarter last year. research analysts expect that Applied Industrial Technologies, Inc. will post 3.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, November 14th. Applied Industrial Technologies’s payout ratio is presently 32.58%.

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Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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