Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,586 shares of the industrial products company's stock after buying an additional 8,712 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of Applied Industrial Technologies worth $13,072,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AIT. Larson Financial Group LLC lifted its stake in Applied Industrial Technologies by 5,900.0% in the fourth 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 bought a new position in Applied Industrial Technologies in the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in Applied Industrial Technologies during the fourth quarter worth $44,000. Huntington National Bank increased its holdings in shares of Applied Industrial Technologies by 33.8% in the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 47 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position 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 valued at $49,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock traded up $6.44 on Friday, reaching $221.94. The company's stock had a trading volume of 489,566 shares, compared to its average volume of 290,853. Applied Industrial Technologies, Inc. has a 52-week low of $177.68 and a 52-week high of $282.98. The company has a market capitalization of $8.52 billion, a P/E ratio of 22.49, a PEG ratio of 3.14 and a beta of 1.01. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $233.63 and a 200-day moving average price of $245.45.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating 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 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.46 per share. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.83%. Applied Industrial Technologies's dividend payout ratio is presently 18.64%.

Wall Street Analyst Weigh In

Several research firms recently commented on AIT. Robert W. Baird boosted their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. StockNews.com lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. KeyCorp reduced their price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Loop Capital cut their price target on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Raymond James restated an "outperform" rating and set a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $287.14.

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.