EverSource Wealth Advisors LLC Acquires 146 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

EverSource Wealth Advisors LLC increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 28.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 652 shares of the industrial products company’s stock after purchasing an additional 146 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Applied Industrial Technologies were worth $156,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AIT. Larson Financial Group LLC raised its position in shares of Applied Industrial Technologies by 5,900.0% during the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 118 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $30,000. First Horizon Advisors Inc. increased its holdings in Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Applied Industrial Technologies in the fourth quarter valued at about $44,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Applied Industrial Technologies by 25.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock worth $49,000 after buying an additional 41 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on AIT shares. KeyCorp lowered their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. Finally, Raymond James reaffirmed an “outperform” rating and set a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $284.29.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $227.14 on Tuesday. The company has a fifty day moving average price of $250.57 and a 200 day moving average price of $243.58. The firm has a market cap of $8.72 billion, a PE ratio of 23.01, a PEG ratio of 3.14 and a beta of 1.08. 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 1-year low of $177.68 and a 1-year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share 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%. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share 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 $0.46 dividend. The ex-dividend date of this dividend 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 0.81%. Applied Industrial Technologies’s dividend payout ratio (DPR) 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.