Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by LPL Financial LLC

LPL Financial LLC boosted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 23.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,328 shares of the industrial products company's stock after purchasing an additional 5,980 shares during the quarter. LPL Financial LLC owned approximately 0.08% of Applied Industrial Technologies worth $7,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AIT. Barclays PLC grew its stake in shares of Applied Industrial Technologies by 156.6% during the 3rd quarter. Barclays PLC now owns 74,109 shares of the industrial products company's stock valued at $16,537,000 after buying an additional 45,224 shares during the period. SBI Securities Co. Ltd. acquired a new position in Applied Industrial Technologies in the fourth quarter valued at $44,000. Nordea Investment Management AB grew its position in Applied Industrial Technologies by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company's stock valued at $48,540,000 after acquiring an additional 9,667 shares during the period. Mountain Pacific Investment Advisers LLC increased its stake in Applied Industrial Technologies by 36.6% during the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 46,155 shares of the industrial products company's stock worth $11,053,000 after acquiring an additional 12,364 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Applied Industrial Technologies by 14.3% in the 3rd quarter. Franklin Resources Inc. now owns 233,655 shares of the industrial products company's stock worth $53,238,000 after purchasing an additional 29,288 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Raymond James reissued an "outperform" rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. KeyCorp reduced their target price on shares of 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, Robert W. Baird increased their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $284.29.

Applied Industrial Technologies Stock Down 4.8 %

Shares of NYSE AIT traded down $11.12 during midday trading on Thursday, reaching $220.85. 442,012 shares of the company's stock were exchanged, compared to its average volume of 286,922. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. Applied Industrial Technologies, Inc. has a 52-week low of $177.68 and a 52-week high of $282.98. The business's fifty day moving average price is $238.47 and its two-hundred day moving average price is $245.57. The stock has a market capitalization of $8.48 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 3.14 and a beta of 1.01.

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, beating 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%. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

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