B. Metzler seel. Sohn & Co. Holding AG Takes $3.59 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,094 shares of the industrial products company's stock, valued at approximately $3,591,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. raised its holdings in Applied Industrial Technologies by 3.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company's stock valued at $255,000 after acquiring an additional 43 shares during the last quarter. QRG Capital Management Inc. lifted its position in Applied Industrial Technologies by 0.9% during the second quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company's stock worth $1,254,000 after buying an additional 55 shares in the last quarter. Miller Howard Investments Inc. NY boosted its stake in Applied Industrial Technologies by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company's stock worth $446,000 after buying an additional 55 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Applied Industrial Technologies by 0.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company's stock valued at $3,374,000 after buying an additional 61 shares in the last quarter. Finally, Dana Investment Advisors Inc. increased 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 last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Up 1.3 %

Applied Industrial Technologies stock traded up $3.49 during mid-day trading on Thursday, reaching $269.23. 262,261 shares of the company's stock were exchanged, compared to its average volume of 285,438. The company has a market cap of $10.35 billion, a P/E ratio of 27.65, a P/E/G ratio of 3.65 and a beta of 1.03. Applied Industrial Technologies, Inc. has a twelve month low of $155.47 and a twelve month high of $276.97. 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 company has a fifty day moving average of $234.30 and a 200-day moving average of $209.97.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data 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. 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 analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. The company's revenue was up .3% on a year-over-year basis. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies's payout ratio is presently 15.10%.

Wall Street Analysts Forecast Growth

AIT has been the topic of several recent research reports. Raymond James boosted their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. KeyCorp increased their price target 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. Loop Capital lifted their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Robert W. Baird upped their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, Bank of America lifted their target price on Applied Industrial Technologies from $232.00 to $240.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Applied Industrial Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $267.86.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the transaction, the vice president now owns 19,315 shares in the company, valued at $3,922,876.50. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.67% of the company's stock.

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.