B. Metzler seel. Sohn & Co. Holding AG Buys New Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

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

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

Analyst Ratings Changes

Several research analysts have recently issued reports on AIT shares. Raymond James increased their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Bank of America increased their target price on shares of Applied Industrial Technologies from $232.00 to $240.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Loop Capital boosted their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. KeyCorp raised their price objective 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. Finally, Robert W. Baird upped their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Two 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 presently has an average rating of "Moderate Buy" and an average price target of $267.86.

Insider Activity at Applied Industrial Technologies

In other 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 transaction, the vice president now owns 19,315 shares of the company's stock, valued at $3,922,876.50. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.67% of the stock is owned by company insiders.

Applied Industrial Technologies Stock Down 0.1 %

AIT stock opened at $265.96 on Thursday. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 3.65 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 12-month low of $155.47 and a 12-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 50 day moving average of $232.93 and a two-hundred day moving average of $209.58.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. Applied Industrial Technologies's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $2.39 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 dividend yield of 0.56%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies's dividend payout ratio is 15.10%.

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.