58,413 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 58,413 shares of the industrial products company's stock, valued at approximately $13,034,000. Eagle Asset Management Inc. owned approximately 0.15% of Applied Industrial Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in Applied Industrial Technologies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,317 shares of the industrial products company's stock valued at $127,032,000 after buying an additional 3,887 shares during the period. Intech Investment Management LLC acquired a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $1,776,000. EULAV Asset Management grew its position in shares of Applied Industrial Technologies by 94.4% in the third quarter. EULAV Asset Management now owns 45,300 shares of the industrial products company's stock valued at $10,108,000 after purchasing an additional 22,000 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 88 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of Applied Industrial Technologies by 14.2% in the third quarter. Advisors Asset Management Inc. now owns 13,704 shares of the industrial products company's stock valued at $3,058,000 after purchasing an additional 1,706 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

Insiders Place Their Bets

In other Applied Industrial Technologies 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 transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.67% of the company's stock.

Applied Industrial Technologies Stock Up 2.9 %

Shares of AIT traded up $7.88 during trading hours on Friday, hitting $277.11. The stock had a trading volume of 295,244 shares, compared to its average volume of 248,681. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The firm has a 50 day simple moving average of $237.10 and a 200-day simple moving average of $211.10. The firm has a market capitalization of $10.65 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 3.69 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1-year low of $155.47 and a 1-year high of $277.63.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. The company had revenue of $1.10 billion during 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 for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business posted $2.39 EPS. Sell-side analysts predict 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 will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.53%. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 15.10%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AIT. 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 report on Friday, October 25th. Robert W. Baird raised 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. Bank of America raised their target price on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. KeyCorp raised their target price 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. Finally, Oppenheimer raised their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $267.86.

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.