Exchange Traded Concepts LLC Purchases New Shares in Applied Industrial Technologies, Inc. (NYSE:AIT)

Exchange Traded Concepts LLC acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,432 shares of the industrial products company’s stock, valued at approximately $2,328,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. EntryPoint Capital LLC bought a new position in shares of Applied Industrial Technologies in the 1st quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $32,000. Quarry LP bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at approximately $39,000. Finally, ZRC Wealth Management LLC purchased a new stake in Applied Industrial Technologies during the 1st quarter valued at $42,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Up 0.7 %

Shares of NYSE:AIT opened at $227.81 on Tuesday. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $208.85 and its 200 day moving average is $199.02. The stock has a market cap of $8.79 billion, a P/E ratio of 23.88, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 52-week low of $149.59 and a 52-week high of $228.20.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $2.35 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on AIT shares. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating for the company. Robert W. Baird upped their price target on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Loop Capital upped their target price on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Raymond James began coverage on Applied Industrial Technologies in a research note on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $229.50.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the transaction, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock valued at $2,439,116 over the last ninety days. 2.20% of the stock is owned by company insiders.

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.