Robeco Schweiz AG Has $38.75 Million Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Robeco Schweiz AG lowered its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,950 shares of the industrial products company's stock after selling 15,010 shares during the quarter. Robeco Schweiz AG owned 0.45% of Applied Industrial Technologies worth $38,747,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. State of Michigan Retirement System lifted its holdings in shares of Applied Industrial Technologies by 1.1% during the first quarter. State of Michigan Retirement System now owns 9,200 shares of the industrial products company's stock valued at $2,073,000 after acquiring an additional 100 shares during the period. Cerity Partners LLC raised its position in shares of Applied Industrial Technologies by 13.0% during the first quarter. Cerity Partners LLC now owns 2,484 shares of the industrial products company's stock worth $560,000 after acquiring an additional 285 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Applied Industrial Technologies by 6.5% during the first quarter. Alps Advisors Inc. now owns 24,814 shares of the industrial products company's stock valued at $5,592,000 after acquiring an additional 1,507 shares during the period. Bridges Investment Management Inc. boosted its holdings in Applied Industrial Technologies by 111.4% in the first quarter. Bridges Investment Management Inc. now owns 5,400 shares of the industrial products company's stock valued at $1,217,000 after acquiring an additional 2,846 shares during the last quarter. Finally, LBP AM SA acquired a new stake in Applied Industrial Technologies in the first quarter worth about $240,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Trading Down 0.8%

NYSE:AIT traded down $2.03 during trading hours on Friday, hitting $253.92. The stock had a trading volume of 344,991 shares, compared to its average volume of 348,248. The business's 50 day moving average is $231.65 and its 200-day moving average is $237.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.51 and a current ratio of 3.57. The company has a market cap of $9.67 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.09 and a beta of 0.91. Applied Industrial Technologies, Inc. has a one year low of $188.71 and a one year high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.17. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. Applied Industrial Technologies had a net margin of 8.64% and a return on equity of 22.01%. The firm's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.48 EPS. Sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, August 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.47%.

Applied Industrial Technologies announced that its board has initiated a share repurchase program on Thursday, May 1st that allows the company to buyback 1,500,000 shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

AIT has been the topic of a number of research reports. Raymond James Financial restated an "outperform" rating and set a $250.00 target price (down from $265.00) on shares of Applied Industrial Technologies in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. KeyCorp reduced their price objective on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Finally, Loop Capital dropped their target price on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $285.00.

About Applied Industrial Technologies

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.