7,959 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Purchased by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,959 shares of the industrial products company's stock, valued at approximately $1,776,000.

Other large investors have also modified their holdings of the company. 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 acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at approximately $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies during the third quarter worth $34,000. Finally, First Horizon Advisors Inc. lifted 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 period. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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 report on Friday, October 25th. Robert W. Baird increased their price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Bank of America raised Applied Industrial Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $285.00 to $315.00 in a report on Tuesday. Oppenheimer increased their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. Finally, Mizuho assumed coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an "outperform" rating and a $285.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $278.57.

Insider Activity

In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares in the company, valued at approximately $3,922,876.50. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.67% of the company's stock.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock traded up $2.16 during midday trading on Tuesday, reaching $280.71. The company's stock had a trading volume of 439,998 shares, compared to its average volume of 286,238. Applied Industrial Technologies, Inc. has a fifty-two week low of $155.47 and a fifty-two week high of $282.32. 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's 50 day simple moving average is $238.50 and its 200 day simple moving average is $211.80. The firm has a market capitalization of $10.79 billion, a PE ratio of 28.43, a P/E/G ratio of 3.80 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $2.39 earnings per share. Applied Industrial Technologies's quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies's dividend payout ratio is currently 15.10%.

Applied Industrial Technologies Profile

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.