Kohmann Bosshard Financial Services LLC Buys Shares of 795 Applied Industrial Technologies, Inc. (NYSE:AIT)

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

A number of other institutional investors also recently made changes to their positions in AIT. Kestra Investment Management LLC purchased a new stake in Applied Industrial Technologies during the 4th quarter worth about $30,000. First Horizon Advisors Inc. grew its holdings in shares of Applied Industrial Technologies by 106.0% during 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 in the last quarter. Parkside Financial Bank & Trust raised its position in shares of 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 valued at $49,000 after buying an additional 41 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $84,000. Finally, Versant Capital Management Inc lifted its stake in shares of Applied Industrial Technologies by 16.8% during the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after buying 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

Shares of NYSE:AIT opened at $250.79 on Monday. The business has a 50-day moving average of $253.61 and a two-hundred day moving average of $241.61. The firm has a market capitalization of $9.62 billion, a PE ratio of 25.41, a P/E/G ratio of 3.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. Applied Industrial Technologies, Inc. has a 12 month low of $177.68 and a 12 month high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.46 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s dividend payout ratio is presently 18.64%.

Wall Street Analyst Weigh In

Several research firms have commented on AIT. Raymond James reaffirmed an “outperform” rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note 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 research report on Thursday, January 30th. KeyCorp lifted their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and an average price target of $291.43.

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.