Charles Schwab Investment Management Inc. Has $136.80 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Charles Schwab Investment Management Inc. raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 571,275 shares of the industrial products company's stock after buying an additional 1,958 shares during the period. Charles Schwab Investment Management Inc. owned about 1.49% of Applied Industrial Technologies worth $136,803,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC lifted its position in shares of Applied Industrial Technologies by 10.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,385 shares of the industrial products company's stock valued at $1,529,000 after acquiring an additional 588 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at $44,000. Jones Financial Companies Lllp boosted its position in shares of Applied Industrial Technologies by 192.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,340 shares of the industrial products company's stock valued at $321,000 after purchasing an additional 882 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in Applied Industrial Technologies in the 4th quarter worth about $190,000. Finally, Bridges Investment Management Inc. raised its holdings in Applied Industrial Technologies by 18.2% during the 4th quarter. Bridges Investment Management Inc. now owns 2,554 shares of the industrial products company's stock worth $612,000 after buying an additional 394 shares during the period. 93.52% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several research analysts have commented on the stock. KeyCorp raised their target price on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Oppenheimer lifted their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Robert W. Baird increased their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Raymond James reiterated an "outperform" rating and set a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Finally, StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $291.43.

Applied Industrial Technologies Stock Down 0.4 %

AIT stock traded down $0.91 during mid-day trading on Tuesday, hitting $226.84. The stock had a trading volume of 276,625 shares, compared to its average volume of 317,549. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98. The company has a fifty day moving average of $252.35 and a 200 day moving average of $242.89. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. The stock 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.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, topping analysts' consensus estimates 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, equities 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 announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders 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. This represents a $1.84 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies's dividend payout ratio (DPR) 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.