TD Waterhouse Canada Inc. Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

TD Waterhouse Canada Inc. acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,839 shares of the industrial products company's stock, valued at approximately $440,000.

A number of other institutional investors have also added to or reduced their stakes in AIT. Larson Financial Group LLC raised its stake in shares of Applied Industrial Technologies by 5,900.0% in the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock worth $29,000 after purchasing an additional 118 shares during the last quarter. Kestra Investment Management LLC bought a new position in Applied Industrial Technologies during the fourth quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in Applied Industrial Technologies in the 4th quarter valued at about $44,000. Huntington National Bank increased its holdings in Applied Industrial Technologies by 33.8% during the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock worth $45,000 after purchasing an additional 47 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Applied Industrial Technologies by 25.3% during the fourth 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. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Trading Down 5.8 %

NYSE AIT traded down $14.00 on Thursday, hitting $229.28. 251,371 shares of the stock were exchanged, compared to its average volume of 293,217. Applied Industrial Technologies, Inc. has a 52-week low of $180.35 and a 52-week high of $282.98. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 3.14 and a beta of 1.01. 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's 50-day moving average price is $229.04 and its two-hundred day moving average price is $246.11.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.17. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The business's revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.80%. Applied Industrial Technologies's dividend payout ratio (DPR) is 18.64%.

Analysts Set New Price Targets

Several research firms recently commented on AIT. Raymond James restated an "outperform" rating and set a $265.00 price target (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. KeyCorp reduced their target price on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, March 17th. Robert W. Baird lifted 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 note on Thursday, January 30th. StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, Loop Capital lowered their price objective on Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and an average target price of $287.14.

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.