California Public Employees Retirement System Grows Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

California Public Employees Retirement System increased its holdings in 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 and Exchange Commission (SEC). The institutional investor owned 70,456 shares of the industrial products company’s stock after acquiring an additional 198 shares during the quarter. California Public Employees Retirement System’s holdings in Applied Industrial Technologies were worth $16,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Larson Financial Group LLC increased its stake in shares of Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 118 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new position in Applied Industrial Technologies during the 4th quarter valued at approximately $44,000. Parkside Financial Bank & Trust raised its stake 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 valued at $49,000 after buying an additional 41 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 55 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Down 2.5 %

AIT opened at $211.16 on Friday. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.14 and a beta of 1.08. The firm has a 50 day moving average price of $243.16 and a 200-day moving average price of $245.67. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve month high of $282.98. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32.

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

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.87%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 18.64%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports 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 report on Monday, March 17th. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and set a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $284.29.

Applied Industrial Technologies Company 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.