Swiss National Bank Has $18.10 Million Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Swiss National Bank lifted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,600 shares of the industrial products company’s stock after buying an additional 200 shares during the quarter. Swiss National Bank’s holdings in Applied Industrial Technologies were worth $18,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth approximately $1,092,000. EverSource Wealth Advisors LLC grew its position in shares of Applied Industrial Technologies by 28.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock worth $156,000 after buying an additional 146 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Applied Industrial Technologies by 13.0% in the 4th quarter. HighTower Advisors LLC now owns 4,463 shares of the industrial products company’s stock worth $1,069,000 after purchasing an additional 513 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of Applied Industrial Technologies in the 4th quarter worth $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Applied Industrial Technologies by 10.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,433 shares of the industrial products company’s stock worth $1,780,000 after purchasing an additional 680 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

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

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $224.48 on Wednesday. The company has a current ratio of 3.76, a quick ratio of 2.55 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $250.09 and its two-hundred day simple moving average is $243.71. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98. The stock has a market cap of $8.62 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, beating 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 forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 0.82%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 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.