Paloma Partners Management Co Buys Shares of 1,500 Applied Industrial Technologies, Inc. (NYSE:AIT)

Paloma Partners Management Co purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,500 shares of the industrial products company’s stock, valued at approximately $335,000.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of Applied Industrial Technologies in the second quarter worth $32,000. V Square Quantitative Management LLC purchased a new stake in shares of Applied Industrial Technologies in the third quarter worth $34,000. First Horizon Advisors Inc. boosted its stake in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after buying an additional 88 shares during the period. Finally, Quarry LP purchased a new position in Applied Industrial Technologies during the second quarter worth about $39,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Trading Down 0.9 %

Shares of AIT opened at $275.13 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $162.19 and a fifty-two week high of $282.98. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 3.80 and a beta of 1.05. The firm has a 50 day moving average price of $247.43 and a 200-day moving average price of $215.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $2.39 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 0.54%. Applied Industrial Technologies’s payout ratio is 15.10%.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. KeyCorp raised their target price on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $285.00 to $315.00 in a report on Tuesday, November 26th. Loop Capital lifted their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Mizuho assumed coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 target price for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $285.71.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This represents a 6.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary Dean Hall sold 2,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares in the company, valued at $952,326.96. The trade was a 38.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Company 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.