Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Robeco Schweiz AG

Robeco Schweiz AG raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,960 shares of the industrial products company’s stock after purchasing an additional 26,800 shares during the period. Robeco Schweiz AG owned 0.49% of Applied Industrial Technologies worth $44,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AIT. Kestra Investment Management LLC acquired a new position in Applied Industrial Technologies during the 4th quarter valued at about $30,000. First Horizon Advisors Inc. grew its stake in shares of Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 88 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Applied Industrial Technologies during the third quarter valued at about $84,000. Versant Capital Management Inc raised its position in shares of Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 55 shares during the last quarter. Finally, D Orazio & Associates Inc. acquired a new stake in Applied Industrial Technologies in the 4th quarter worth approximately $215,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AIT shares. Oppenheimer raised their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. KeyCorp raised their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Raymond James restated an “outperform” rating and issued a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Finally, Robert W. Baird lifted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus price target of $291.43.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $245.15 on Thursday. The company has a market capitalization of $9.41 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. The company’s fifty day moving average price is $253.36 and its 200 day moving average price is $240.55. Applied Industrial Technologies, Inc. has a 1 year low of $177.68 and a 1 year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.46 dividend. The ex-dividend date is Friday, February 14th. This is a boost 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 0.75%. Applied Industrial Technologies’s payout ratio is 18.64%.

Applied Industrial Technologies 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.