Curi RMB Capital LLC Boosts Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Curi RMB Capital LLC increased its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,392 shares of the industrial products company's stock after acquiring an additional 2,171 shares during the period. Curi RMB Capital LLC owned approximately 0.21% of Applied Industrial Technologies worth $18,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIT. EntryPoint Capital LLC acquired a new stake in shares of Applied Industrial Technologies in the first quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new stake in shares of 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 2nd quarter worth about $32,000. V Square Quantitative Management LLC purchased a new stake in Applied Industrial Technologies during the 3rd quarter worth about $34,000. Finally, Quarry LP acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at about $39,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Down 0.3 %

Applied Industrial Technologies stock traded down $0.68 during midday trading on Thursday, reaching $270.94. The stock had a trading volume of 205,237 shares, compared to its average volume of 287,242. The stock's 50-day simple moving average is $227.18 and its 200 day simple moving average is $207.04. Applied Industrial Technologies, Inc. has a twelve month low of $155.47 and a twelve month high of $276.97. 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 stock has a market capitalization of $10.42 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 3.76 and a beta of 1.03.

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 earnings per share 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $2.39 EPS. The company's revenue was up .3% compared to the same quarter last year. Analysts expect that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.55%. Applied Industrial Technologies's payout ratio is 15.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Raymond James lifted their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an "outperform" rating in a report 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. Oppenheimer increased their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research note on Thursday. Mizuho began coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 price objective for the company. Finally, Loop Capital increased their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $267.86.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the transaction, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. This represents a 14.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 11,927 shares of company stock valued at $2,439,116. Company 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.