Tower Research Capital LLC TRC Has $1.65 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Tower Research Capital LLC TRC lifted its position in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 221.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,556 shares of the industrial products company’s stock after buying an additional 6,584 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Applied Industrial Technologies were worth $1,650,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Swiss National Bank boosted its position in shares of Applied Industrial Technologies by 1.1% in the third quarter. Swiss National Bank now owns 85,000 shares of the industrial products company’s stock worth $13,142,000 after buying an additional 900 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Applied Industrial Technologies by 30.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 547,945 shares of the industrial products company’s stock valued at $84,718,000 after purchasing an additional 128,629 shares during the period. Van ECK Associates Corp lifted its position in shares of Applied Industrial Technologies by 42.8% in the third quarter. Van ECK Associates Corp now owns 7,757 shares of the industrial products company’s stock worth $1,199,000 after purchasing an additional 2,325 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Applied Industrial Technologies by 20.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 1,939 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 324 shares in the last quarter. Finally, Pathstone Family Office LLC increased its stake in Applied Industrial Technologies by 44.3% in the 3rd quarter. Pathstone Family Office LLC now owns 9,792 shares of the industrial products company’s stock valued at $1,514,000 after buying an additional 3,004 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $187.31 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70. The stock has a market capitalization of $7.23 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.95 and a beta of 1.08. The business has a 50-day moving average of $191.00 and a two-hundred day moving average of $183.07. Applied Industrial Technologies, Inc. has a fifty-two week low of $134.12 and a fifty-two week high of $201.76.

Applied Industrial Technologies (NYSE:AITGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.08. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.38 earnings per share. On average, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Tuesday, May 14th. Applied Industrial Technologies’s payout ratio is 15.51%.

Insider Activity

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $196.71, for a total transaction of $127,861.50. Following the completion of the transaction, the vice president now owns 22,960 shares in the company, valued at $4,516,461.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on AIT. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Oppenheimer started coverage on Applied Industrial Technologies in a research note on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Industrial Technologies presently has a consensus rating of “Buy” and an average target price of $201.00.

Read Our Latest Report on AIT

Applied Industrial Technologies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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