State Street Corp Has $321.54 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

State Street Corp lifted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,441,051 shares of the industrial products company's stock after acquiring an additional 34,113 shares during the period. State Street Corp owned about 3.75% of Applied Industrial Technologies worth $321,542,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AIT. Westfield Capital Management Co. LP acquired a new position in shares of Applied Industrial Technologies during the third quarter valued at $32,233,000. Sanctuary Advisors LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter valued at $1,279,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Applied Industrial Technologies during the third quarter valued at $3,591,000. Janney Montgomery Scott LLC raised its position in shares of Applied Industrial Technologies by 126.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company's stock worth $981,000 after buying an additional 2,451 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its stake in shares of Applied Industrial Technologies by 0.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company's stock worth $1,928,000 after acquiring an additional 65 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Stock Up 0.1 %

NYSE AIT traded up $0.14 on Wednesday, reaching $270.64. The stock had a trading volume of 254,637 shares, compared to its average volume of 283,985. Applied Industrial Technologies, Inc. has a 1 year low of $163.50 and a 1 year high of $282.98. The business has a 50 day moving average price of $250.36 and a 200 day moving average price of $217.78. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 3.76 and a beta of 1.05.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.11. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The firm's revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.39 earnings per share. On average, analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid 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 dividend yield of 0.55%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.10%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIT. Raymond James raised their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Robert W. Baird increased their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Bank of America raised Applied Industrial Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Loop Capital increased their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $285.71.

Insider Activity

In other news, Director Mary Dean Hall sold 2,200 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 directly owns 3,462 shares in the company, valued at $952,326.96. The trade was a 38.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was 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 in the company, valued at approximately $15,689,882.76. The trade was a 6.70 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by insiders.

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.