NewEdge Advisors LLC Has $659,000 Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

NewEdge Advisors LLC increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 835.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,751 shares of the industrial products company's stock after purchasing an additional 2,457 shares during the quarter. NewEdge Advisors LLC's holdings in Applied Industrial Technologies were worth $659,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in shares of Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock worth $29,000 after buying an additional 118 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Applied Industrial Technologies during the 4th quarter valued at $44,000. Huntington National Bank raised its position in 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 purchasing an additional 47 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Applied Industrial Technologies by 25.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock worth $49,000 after purchasing an additional 41 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AIT shares. StockNews.com cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Raymond James restated 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 price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Loop Capital lowered their target price on Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Robert W. Baird upped their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Applied Industrial Technologies has an average rating of "Moderate Buy" and a consensus price target of $287.14.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $238.61 on Friday. The firm's 50 day moving average price is $230.05 and its two-hundred day moving average price is $245.88. 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 twelve month low of $180.35 and a twelve month high of $282.98. The firm has a market cap of $9.16 billion, a P/E ratio of 24.18, a PEG ratio of 3.14 and a beta of 1.01.

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 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%. On average, analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.46 per share. The ex-dividend date was Friday, February 14th. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.77%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.64%.

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.

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