WCM Investment Management LLC Sells 33,992 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

WCM Investment Management LLC lowered its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 28.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 84,149 shares of the industrial products company’s stock after selling 33,992 shares during the period. WCM Investment Management LLC owned 0.22% of Applied Industrial Technologies worth $20,083,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AIT. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $34,000. First Horizon Advisors Inc. raised its stake in Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 88 shares during the period. UMB Bank n.a. lifted its holdings in Applied Industrial Technologies by 68.1% during the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 77 shares during the last quarter. Millburn Ridgefield Corp bought a new position in Applied Industrial Technologies during the third quarter worth $84,000. Finally, Versant Capital Management Inc boosted its position in Applied Industrial Technologies by 16.8% during the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Buying and Selling

In other news, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the sale, the director now owns 3,462 shares of the company’s stock, valued at approximately $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the transaction, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is owned by corporate insiders.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $262.39 on Friday. The stock has a 50-day moving average price of $255.67 and a two-hundred day moving average price of $235.49. Applied Industrial Technologies, Inc. has a 12 month low of $177.68 and a 12 month high of $282.98. The company has a market capitalization of $10.07 billion, a PE ratio of 26.58, a P/E/G ratio of 3.43 and a beta of 1.08. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Analysts expect that Applied Industrial Technologies, Inc. will post 9.87 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.70%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is presently 14.99%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Loop Capital raised their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. KeyCorp boosted their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Oppenheimer raised their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Robert W. Baird raised their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Mizuho initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.43.

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.