Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,551 shares of the industrial products company's stock after selling 2,229 shares during the period. Janus Henderson Group PLC owned 0.08% of Applied Industrial Technologies worth $6,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. CWM LLC raised its stake in shares of Applied Industrial Technologies by 2.8% during the 2nd quarter. CWM LLC now owns 3,186 shares of the industrial products company's stock worth $618,000 after acquiring an additional 87 shares in the last quarter. SG Americas Securities LLC raised its stake in Applied Industrial Technologies by 621.7% in the second quarter. SG Americas Securities LLC now owns 12,226 shares of the industrial products company's stock valued at $2,372,000 after buying an additional 10,532 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Applied Industrial Technologies by 5.7% in the second quarter. Sequoia Financial Advisors LLC now owns 1,425 shares of the industrial products company's stock worth $276,000 after acquiring an additional 77 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Applied Industrial Technologies by 1.1% during the second quarter. Wedge Capital Management L L P NC now owns 18,952 shares of the industrial products company's stock worth $3,677,000 after acquiring an additional 206 shares during the last quarter. Finally, Kessler Investment Group LLC purchased a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at approximately $125,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Price Performance

NYSE:AIT traded down $1.43 during trading hours on Tuesday, hitting $270.50. 192,113 shares of the stock were exchanged, compared to its average volume of 284,110. The firm's fifty day moving average price is $250.36 and its 200 day moving average price is $217.78. Applied Industrial Technologies, Inc. has a 52-week low of $163.50 and a 52-week high of $282.98. The company has a market cap of $10.40 billion, a P/E ratio of 27.60, a P/E/G ratio of 3.76 and a beta of 1.05. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The company's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.39 earnings per share. As a group, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, November 15th. Applied Industrial Technologies's payout ratio is currently 15.10%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Oppenheimer raised their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. Bank of America raised shares of Applied Industrial Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. KeyCorp boosted their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Raymond James increased their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, StockNews.com upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $285.71.

Insiders Place Their Bets

In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the sale, the director now owns 3,462 shares in the company, valued at $952,326.96. The trade was a 38.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares in the company, valued at approximately $15,689,882.76. This trade represents a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.67% of the company's stock.

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.