EverSource Wealth Advisors LLC Has $156,000 Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

EverSource Wealth Advisors LLC grew its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 28.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC raised its holdings in 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 buying an additional 118 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Applied Industrial Technologies during the 4th quarter valued at about $30,000. First Horizon Advisors Inc. lifted its stake in shares of 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 worth $38,000 after buying an additional 88 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter worth $44,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Applied Industrial Technologies by 25.3% during the 4th 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 period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AIT. Raymond James reiterated 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. Robert W. Baird upped their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, KeyCorp decreased their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday. Two equities 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 company has an average rating of “Moderate Buy” and an average price target of $284.29.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $227.14 on Tuesday. The stock has a market capitalization of $8.72 billion, a P/E ratio of 23.01, a price-to-earnings-growth 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. The firm has a 50 day moving average of $250.57 and a 200-day moving average of $243.58.

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, beating the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. As a group, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.46 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.64%.

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.