JPMorgan Chase & Co. Has $261.01 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

JPMorgan Chase & Co. reduced its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,089,958 shares of the industrial products company's stock after selling 102,090 shares during the period. JPMorgan Chase & Co. owned 2.84% of Applied Industrial Technologies worth $261,012,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AIT. Zurich Insurance Group Ltd FI acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at about $84,139,000. Raymond James Financial Inc. acquired a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $25,518,000. Artisan Partners Limited Partnership raised its position in shares of Applied Industrial Technologies by 32.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 238,975 shares of the industrial products company's stock valued at $57,227,000 after purchasing an additional 58,140 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of Applied Industrial Technologies in the third quarter worth $12,897,000. Finally, Barclays PLC boosted its holdings 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 worth $16,537,000 after buying an additional 45,224 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AIT has been the topic of several recent analyst reports. StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. KeyCorp cut their price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Robert W. Baird raised 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. Finally, Raymond James reiterated an "outperform" rating and set a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $284.29.

Remove Ads

Applied Industrial Technologies Stock Performance

AIT traded down $5.51 on Friday, hitting $211.16. 581,168 shares of the stock traded hands, compared to its average volume of 281,081. The business has a fifty day moving average price of $243.16 and a two-hundred day moving average price of $245.67. 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 firm has a market capitalization of $8.10 billion, a PE ratio of 21.39, a P/E/G ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, beating 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, research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed 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 represents a $1.84 dividend on an annualized basis and a dividend yield of 0.87%. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies's dividend payout ratio (DPR) 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.