Kohmann Bosshard Financial Services LLC Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Kohmann Bosshard Financial Services LLC bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 795 shares of the industrial products company’s stock, valued at approximately $190,000.

A number of other large investors have also added to or reduced their stakes in AIT. Kestra Investment Management LLC purchased a new position in Applied Industrial Technologies in the 4th quarter valued at about $30,000. First Horizon Advisors Inc. lifted its holdings in Applied Industrial Technologies by 106.0% during the 3rd 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. Parkside Financial Bank & Trust boosted its holdings in Applied Industrial Technologies by 25.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 41 shares during the period. Millburn Ridgefield Corp acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at about $84,000. Finally, Versant Capital Management Inc boosted its stake 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 valued at $91,000 after acquiring an additional 55 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

AIT opened at $250.79 on Monday. The business has a 50 day moving average price of $253.61 and a two-hundred day moving average price of $241.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. 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 announced 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 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 EPS 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 given a dividend of $0.46 per share. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.64%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Robert W. Baird upped 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 target price for the stock from $285.00 to $315.00 in a research report on Tuesday, November 26th. Raymond James reaffirmed 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. Oppenheimer increased their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Finally, KeyCorp lifted their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $291.43.

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.