Applied Industrial Technologies, Inc. (NYSE:AIT) Stock Position Decreased by Royce & Associates LP

Royce & Associates LP lessened its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 166,148 shares of the industrial products company’s stock after selling 453 shares during the period. Royce & Associates LP owned 0.43% of Applied Industrial Technologies worth $37,073,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AIT. EntryPoint Capital LLC acquired a new position in Applied Industrial Technologies during the 1st quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new position in Applied Industrial Technologies during the 3rd quarter valued at about $34,000. Finally, Quarry LP acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at about $39,000. Institutional investors own 93.52% of the company’s stock.

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 that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. This represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. The trade was a 14.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,927 shares of company stock worth $2,439,116. 1.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AIT has been the subject of a number of analyst reports. Loop Capital boosted their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, October 28th. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Mizuho started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price target for the company. Raymond James increased their price objective on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $267.86.

Applied Industrial Technologies Trading Down 0.1 %

Shares of NYSE:AIT opened at $271.30 on Friday. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 3.73 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1-year low of $155.47 and a 1-year high of $276.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The company has a 50 day moving average price of $227.18 and a 200 day moving average price of $207.04.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm posted $2.39 earnings per share. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s payout ratio is 15.10%.

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.