O Shaughnessy Asset Management LLC Cuts Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

O Shaughnessy Asset Management LLC trimmed its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,210 shares of the industrial products company’s stock after selling 733 shares during the period. O Shaughnessy Asset Management LLC owned about 0.07% of Applied Industrial Technologies worth $5,573,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Applied Industrial Technologies by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock worth $875,912,000 after buying an additional 14,858 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Applied Industrial Technologies by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock worth $163,575,000 after acquiring an additional 21,276 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Applied Industrial Technologies by 5.4% in the 4th quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock worth $108,009,000 after acquiring an additional 32,282 shares during the period. Capital Research Global Investors grew its holdings in shares of Applied Industrial Technologies by 978.3% in the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock worth $96,646,000 after acquiring an additional 507,750 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Applied Industrial Technologies by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 559,037 shares of the industrial products company’s stock worth $96,540,000 after acquiring an additional 11,092 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Price Performance

NYSE:AIT traded up $2.23 during trading hours on Tuesday, reaching $209.37. 201,086 shares of the company traded hands, compared to its average volume of 308,386. The firm’s 50-day moving average is $193.20 and its 200-day moving average is $188.23. The stock has a market cap of $8.08 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.01 and a beta of 1.06. 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, Inc. has a 1-year low of $138.38 and a 1-year high of $212.19.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned $2.38 EPS. Applied Industrial Technologies’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, August 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.51%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AIT shares. Oppenheimer started coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target on the stock. KeyCorp upped their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Northcoast Research initiated coverage on Applied Industrial Technologies in a report on Monday, July 1st. They set a “neutral” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Insider Transactions at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 650 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $196.71, for a total transaction of $127,861.50. Following the sale, the vice president now owns 22,960 shares in the company, valued at $4,516,461.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

About Applied Industrial Technologies

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.