Premier Fund Managers Ltd Trims Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Premier Fund Managers Ltd decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 88.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,040 shares of the industrial products company's stock after selling 223,070 shares during the period. Premier Fund Managers Ltd owned about 0.08% of Applied Industrial Technologies worth $6,485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in Applied Industrial Technologies in the first quarter valued at $25,000. Headlands Technologies LLC acquired a new stake in Applied Industrial Technologies in the second quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in Applied Industrial Technologies during the second quarter worth about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $34,000. Finally, Quarry LP acquired a new stake in Applied Industrial Technologies in the second quarter valued at $39,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Trading Down 0.8 %

Shares of AIT stock traded down $2.22 during mid-day trading on Wednesday, reaching $264.05. The company's stock had a trading volume of 38,163 shares, compared to its average volume of 284,915. 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 firm has a market capitalization of $10.15 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 3.66 and a beta of 1.03. The company's 50 day simple moving average is $232.93 and its 200-day simple moving average is $209.58. Applied Industrial Technologies, Inc. has a 12-month low of $155.47 and a 12-month high of $276.97.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (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 firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $2.39 EPS. The firm's quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts predict that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies's dividend payout ratio is presently 15.10%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the business's stock in a transaction on Friday, August 23rd. The shares were 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 $4,037,221.30. The trade was a 14.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AIT. KeyCorp raised their price target on Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Bank of America raised their price target on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. StockNews.com raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Finally, Raymond James boosted their target price 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. 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, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and a consensus price target 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.