Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,404 shares of the industrial products company’s stock after purchasing an additional 391 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.07% of Applied Industrial Technologies worth $4,560,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. California Public Employees Retirement System increased its holdings in shares of Applied Industrial Technologies by 11.1% in the fourth quarter. California Public Employees Retirement System now owns 64,203 shares of the industrial products company’s stock valued at $11,087,000 after purchasing an additional 6,404 shares during the period. Duality Advisers LP grew its holdings in Applied Industrial Technologies by 13.7% during the fourth quarter. Duality Advisers LP now owns 3,251 shares of the industrial products company’s stock worth $561,000 after acquiring an additional 392 shares during the period. Foundry Partners LLC grew its holdings in Applied Industrial Technologies by 39.5% during the fourth quarter. Foundry Partners LLC now owns 2,984 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 845 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Applied Industrial Technologies during the fourth quarter worth about $393,000. Finally, Federated Hermes Inc. grew its holdings in Applied Industrial Technologies by 14.9% during the fourth quarter. Federated Hermes Inc. now owns 190,025 shares of the industrial products company’s stock worth $32,815,000 after acquiring an additional 24,631 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total transaction of $364,680.00. Following the transaction, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is currently owned by company insiders.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $186.04 on Thursday. The company has a market capitalization of $7.19 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.96 and a beta of 1.08. The business’s 50 day moving average is $190.24 and its two-hundred day moving average is $175.28. The company has a current ratio of 3.74, a quick ratio of 2.59 and a debt-to-equity ratio of 0.36. Applied Industrial Technologies, Inc. has a 12-month low of $122.24 and a 12-month high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. Applied Industrial Technologies’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 earnings per share. Analysts expect that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current fiscal year.

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.