Chartwell Investment Partners LLC Purchases 85 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Chartwell Investment Partners LLC boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,602 shares of the industrial products company’s stock after buying an additional 85 shares during the period. Chartwell Investment Partners LLC’s holdings in Applied Industrial Technologies were worth $2,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AIT. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies in the 1st quarter valued at about $25,000. Headlands Technologies LLC bought a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC bought a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $34,000. Finally, Quarry LP bought a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $39,000. 93.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on AIT shares. Mizuho started coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective for the company. Robert W. Baird boosted their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Oppenheimer boosted their price objective on Applied Industrial Technologies from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, KeyCorp boosted their target price on Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $261.43.

Insider Activity at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 3,366 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now owns 19,315 shares in the company, valued at approximately $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total transaction of $703,561.32. Following the sale, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,927 shares of company stock worth $2,439,116. Insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $273.80 on Wednesday. Applied Industrial Technologies, Inc. has a twelve month low of $155.47 and a twelve month high of $276.15. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $224.22 and its 200-day moving average price is $205.94. The company has a market capitalization of $10.53 billion, a PE ratio of 27.94, a PEG ratio of 3.69 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business earned $2.39 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.37 dividend. The ex-dividend date is 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%.

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.