Algert Global LLC Sells 3,305 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Algert Global LLC lessened its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,146 shares of the industrial products company's stock after selling 3,305 shares during the quarter. Algert Global LLC owned about 0.08% of Applied Industrial Technologies worth $6,950,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AIT. EntryPoint Capital LLC acquired a new stake in shares of Applied Industrial Technologies in the first quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in shares of Applied Industrial Technologies in the third quarter valued at $34,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies during the second quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. lifted its position in Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Trading Up 2.9 %

Shares of NYSE:AIT traded up $7.88 during trading on Friday, reaching $277.11. 295,244 shares of the stock were exchanged, compared to its average volume of 248,681. Applied Industrial Technologies, Inc. has a 12-month low of $155.47 and a 12-month high of $277.63. The firm's 50-day moving average price is $237.10 and its 200 day moving average price is $211.10. 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 firm has a market cap of $10.65 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.11. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $2.39 earnings per share. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies's dividend payout ratio is currently 15.10%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now owns 19,315 shares in the company, valued at $3,922,876.50. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AIT shares. KeyCorp raised their price objective 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. StockNews.com raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. 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 on the stock. Robert W. Baird lifted their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, Bank of America raised their target price on shares of Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $267.86.

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.