Applied Industrial Technologies (NYSE:AIT) Position Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its stake in shares of Applied Industrial Technologies (NYSE:AIT) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,245 shares of the industrial products company’s stock after purchasing an additional 1,015 shares during the period. Thrivent Financial for Lutherans owned approximately 0.07% of Applied Industrial Technologies worth $1,470,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its stake in Applied Industrial Technologies by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 12,962 shares of the industrial products company’s stock valued at $699,000 after acquiring an additional 210 shares during the last quarter. First Mercantile Trust Co. boosted its position in Applied Industrial Technologies by 11.1% during the 4th quarter. First Mercantile Trust Co. now owns 2,200 shares of the industrial products company’s stock worth $119,000 after buying an additional 220 shares during the period. Alpha Windward LLC boosted its position in Applied Industrial Technologies by 4.3% during the 4th quarter. Alpha Windward LLC now owns 7,320 shares of the industrial products company’s stock worth $395,000 after buying an additional 300 shares during the period. Piedmont Investment Advisors Inc. boosted its position in Applied Industrial Technologies by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 9,211 shares of the industrial products company’s stock worth $497,000 after buying an additional 305 shares during the period. Finally, Texas Permanent School Fund boosted its position in Applied Industrial Technologies by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 25,361 shares of the industrial products company’s stock worth $1,368,000 after buying an additional 998 shares during the period. Institutional investors own 90.96% of the company’s stock.

Several analysts have recently weighed in on AIT shares. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. Longbow Research upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Friday, March 8th. Wellington Shields lowered shares of Applied Industrial Technologies from a “buy” rating to a “gradually accumulate” rating in a research note on Thursday, January 24th. Finally, KeyCorp upgraded shares of Applied Industrial Technologies from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, January 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $71.00.

AIT opened at $59.27 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.04. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 1.15 and a beta of 1.29. Applied Industrial Technologies has a 1 year low of $50.56 and a 1 year high of $82.35.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, January 24th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.07). Applied Industrial Technologies had a return on equity of 20.03% and a net margin of 4.80%. The firm had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $855.94 million. During the same period in the prior year, the firm earned $0.79 earnings per share. Applied Industrial Technologies’s revenue was up 25.9% compared to the same quarter last year. On average, analysts expect that Applied Industrial Technologies will post 4.58 EPS for the current fiscal year.

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About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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

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