Commonwealth Equity Services LLC Boosts Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Commonwealth Equity Services LLC increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,322 shares of the industrial products company’s stock after acquiring an additional 141 shares during the period. Commonwealth Equity Services LLC’s holdings in Applied Industrial Technologies were worth $1,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AIT. Larson Financial Group LLC increased its stake in Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 118 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $44,000. Parkside Financial Bank & Trust increased its stake in Applied Industrial Technologies by 25.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock worth $49,000 after buying an additional 41 shares during the period. Finally, Millburn Ridgefield Corp acquired a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $84,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Down 0.0 %

Applied Industrial Technologies stock opened at $232.79 on Friday. The stock has a market cap of $8.93 billion, a PE ratio of 23.59, a P/E/G ratio of 3.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The stock’s fifty day moving average is $247.48 and its two-hundred day moving average is $244.70. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s payout ratio is currently 18.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Raymond James restated an “outperform” rating and issued a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Robert W. Baird boosted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. KeyCorp cut their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Finally, StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $284.29.

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.