UBS Group AG Has $6.34 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

UBS Group AG grew its position in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 153.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,735 shares of the industrial products company’s stock after buying an additional 22,242 shares during the quarter. UBS Group AG owned 0.09% of Applied Industrial Technologies worth $6,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in shares of Applied Industrial Technologies by 38.5% in the 3rd quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock valued at $251,329,000 after buying an additional 451,876 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Applied Industrial Technologies by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock worth $163,575,000 after purchasing an additional 21,276 shares in the last quarter. Invesco Ltd. increased its position 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 in the last quarter. Boston Trust Walden Corp increased its position 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Applied Industrial Technologies by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 559,037 shares of the industrial products company’s stock worth $96,540,000 after purchasing an additional 11,092 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Down 1.2 %

Shares of NYSE AIT opened at $187.76 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77. Applied Industrial Technologies, Inc. has a 52-week low of $132.34 and a 52-week high of $201.76. The firm has a 50 day moving average price of $191.37 and a two-hundred day moving average price of $182.42. The stock has a market cap of $7.25 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 1.94 and a beta of 1.08.

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

Applied Industrial Technologies Announces Dividend

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

Insider Activity

In other news, VP Jason W. Vasquez sold 650 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the sale, the vice president now directly owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. 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. KeyCorp upped their price objective on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Five equities 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 an average target price of $201.00.

Check Out Our Latest Report on Applied Industrial Technologies

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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