4,559 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,559 shares of the industrial products company's stock, valued at approximately $1,092,000. Applied Industrial Technologies makes up about 1.1% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's portfolio, making the stock its 20th largest position.

Several other hedge funds also recently made changes to their positions in AIT. Larson Financial Group LLC lifted its stake in shares of Applied Industrial Technologies by 5,900.0% in the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock worth $29,000 after acquiring an additional 118 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Applied Industrial Technologies during the 4th quarter worth approximately $30,000. First Horizon Advisors Inc. lifted its holdings in shares of 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 buying an additional 88 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $44,000. Finally, Parkside Financial Bank & Trust grew its holdings in Applied Industrial Technologies by 25.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock worth $49,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

Analysts Set New Price Targets

AIT has been the topic of several research analyst reports. Raymond James restated an "outperform" rating and set a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. StockNews.com lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Bank of America raised shares of Applied Industrial Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Robert W. Baird boosted their price target 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. Finally, Oppenheimer raised their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $291.43.

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Applied Industrial Technologies Trading Down 0.4 %

Shares of AIT stock opened at $226.84 on Wednesday. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve month high of $282.98. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 3.14 and a beta of 1.08. The firm has a 50-day moving average price of $252.10 and a 200 day moving average price of $243.03. 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 - Get Free Report) last released 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%. Research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.46 dividend. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a yield of 0.81%. Applied Industrial Technologies's payout ratio is 18.64%.

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.

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