EULAV Asset Management Has $10.11 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

EULAV Asset Management boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 94.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,300 shares of the industrial products company's stock after acquiring an additional 22,000 shares during the quarter. EULAV Asset Management owned 0.12% of Applied Industrial Technologies worth $10,108,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock worth $38,000 after purchasing an additional 88 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Applied Industrial Technologies by 14.2% during the third quarter. Advisors Asset Management Inc. now owns 13,704 shares of the industrial products company's stock worth $3,058,000 after acquiring an additional 1,706 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Applied Industrial Technologies by 3.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,533 shares of the industrial products company's stock worth $3,243,000 after purchasing an additional 436 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Applied Industrial Technologies during the 3rd quarter worth $3,591,000. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Applied Industrial Technologies by 11.4% in the third quarter. Banque Cantonale Vaudoise now owns 5,592 shares of the industrial products company's stock valued at $1,248,000 after buying an additional 571 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Insider Activity at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 23rd. The shares were 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 of the company's stock, valued at $4,037,221.30. This trade represents a 14.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.67% of the company's stock.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock traded down $0.31 during trading hours on Wednesday, hitting $265.96. 179,074 shares of the stock were exchanged, compared to its average volume of 285,541. 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 business's 50-day moving average is $232.93 and its two-hundred day 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. The stock has a market capitalization of $10.23 billion, a P/E ratio of 27.17, a P/E/G ratio of 3.66 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. 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 previous year, the firm posted $2.39 earnings per share. The firm's revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business 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 yield of 0.56%. Applied Industrial Technologies's payout ratio is presently 15.10%.

Wall Street Analyst Weigh In

AIT has been the topic of a number of recent analyst reports. Mizuho began coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an "outperform" rating and a $285.00 price objective on the stock. Robert W. Baird lifted 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. Loop Capital lifted their price objective 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. StockNews.com raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Finally, Oppenheimer raised their target price on shares of 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 equities 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 currently has an average 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.