106,562 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 106,562 shares of the industrial products company's stock, valued at approximately $25,518,000. Raymond James Financial Inc. owned about 0.28% of Applied Industrial Technologies at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC increased its stake in shares of 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 buying an additional 118 shares during the period. Kestra Investment Management LLC purchased a new position in Applied Industrial Technologies during the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. bought a new position in Applied Industrial Technologies during the 4th quarter valued at approximately $44,000. Huntington National Bank raised its holdings 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 worth $45,000 after purchasing an additional 47 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Applied Industrial Technologies by 25.3% in the 4th 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 during the period. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Stock Performance

AIT stock traded up $7.02 during midday trading on Thursday, reaching $235.82. 92,644 shares of the company's stock traded hands, compared to its average volume of 291,766. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. Applied Industrial Technologies, Inc. has a 52-week low of $177.68 and a 52-week high of $282.98. The stock has a market cap of $9.05 billion, a P/E ratio of 23.83, a PEG ratio of 3.14 and a beta of 1.01. The stock's 50-day moving average is $231.19 and its 200 day moving average is $245.46.

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, topping 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%. As a group, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid 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 0.78%. Applied Industrial Technologies's payout ratio is 18.64%.

Wall Street Analyst Weigh In

Several analysts have weighed in on AIT shares. Robert W. Baird lifted their price objective on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Loop Capital reduced their price target on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. StockNews.com lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. KeyCorp lowered their price target 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. Finally, Raymond James reissued an "outperform" rating and issued a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research 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. According to data from MarketBeat, Applied Industrial Technologies presently 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.