Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,151 shares of the industrial products company’s stock after purchasing an additional 256 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Applied Industrial Technologies were worth $1,408,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC boosted its stake in Applied Industrial Technologies by 38.5% during the 3rd quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock worth $251,329,000 after purchasing an additional 451,876 shares during the period. Invesco Ltd. boosted its stake in Applied Industrial Technologies by 15.0% during the 3rd quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company’s stock worth $116,099,000 after purchasing an additional 98,144 shares during the period. Boston Trust Walden Corp boosted its stake in Applied Industrial Technologies by 5.4% during the 4th quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock worth $108,009,000 after purchasing an additional 32,282 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Applied Industrial Technologies by 30.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 547,945 shares of the industrial products company’s stock worth $84,718,000 after purchasing an additional 128,629 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Applied Industrial Technologies by 19.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,880 shares of the industrial products company’s stock worth $87,879,000 after purchasing an additional 83,585 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 3.9 %

Shares of Applied Industrial Technologies stock opened at $178.79 on Friday. The company has a market cap of $6.91 billion, a P/E ratio of 18.76, a PEG ratio of 1.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74. Applied Industrial Technologies, Inc. has a one year low of $122.24 and a one year high of $201.76. The firm has a fifty day moving average of $190.03 and a two-hundred day moving average of $175.31.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. Applied Industrial Technologies’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, analysts forecast that Applied Industrial Technologies, Inc. will post 9.49 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity

In other news, VP Warren E. Hoffner III sold 2,000 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the completion of the transaction, the vice president now owns 57,155 shares in the company, valued at approximately $10,421,642.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

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.