Measured Wealth Private Client Group LLC Increases Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Measured Wealth Private Client Group LLC increased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,846 shares of the industrial products company’s stock after purchasing an additional 139 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Applied Industrial Technologies were worth $837,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC grew its position in shares of Applied Industrial Technologies by 38.5% in the third quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock valued at $251,329,000 after purchasing an additional 451,876 shares during the period. Invesco Ltd. boosted its holdings in Applied Industrial Technologies by 15.0% in the third quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company’s stock valued at $116,099,000 after acquiring an additional 98,144 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in Applied Industrial Technologies by 5.4% in the fourth quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock valued at $108,009,000 after acquiring an additional 32,282 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Applied Industrial Technologies by 30.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 547,945 shares of the industrial products company’s stock valued at $84,718,000 after acquiring an additional 128,629 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Applied Industrial Technologies by 19.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company’s stock valued at $87,879,000 after acquiring an additional 83,585 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIT. Oppenheimer began coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target on the stock. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Buy” and an average target price of $201.00.

Applied Industrial Technologies Stock Performance

Shares of AIT stock traded up $1.35 during trading hours on Friday, reaching $185.98. The stock had a trading volume of 233,909 shares, compared to its average volume of 277,210. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70. The firm has a 50-day simple moving average of $189.50 and a 200-day simple moving average of $176.28. The firm has a market capitalization of $7.18 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. Applied Industrial Technologies, Inc. has a twelve month low of $122.24 and a twelve month high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 earnings per share. As a group, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.6 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be given a $0.37 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.80%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.51%.

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.