Applied Industrial Technologies, Inc. (NYSE:AIT) Stake Cut by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC decreased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 60.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,025 shares of the industrial products company's stock after selling 21,055 shares during the period. Lisanti Capital Growth LLC's holdings in Applied Industrial Technologies were worth $3,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new position in shares of Applied Industrial Technologies during the first quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new stake in shares of Applied Industrial Technologies during the second quarter valued at $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies in the third quarter worth $34,000. Opal Wealth Advisors LLC acquired a new stake in Applied Industrial Technologies during the second quarter worth about $32,000. Finally, UMB Bank n.a. boosted its stake in shares of Applied Industrial Technologies by 68.1% during the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company's stock worth $42,000 after acquiring an additional 77 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company's stock, valued at approximately $41,602,385.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Kurt W. Loring sold 3,366 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now directly owns 19,315 shares of the company's stock, valued at approximately $4,037,221.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,927 shares of company stock worth $2,439,116. 1.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on AIT shares. Raymond James boosted 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. StockNews.com raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Bank of America boosted their price target on shares of Applied Industrial Technologies from $232.00 to $240.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. KeyCorp raised their price target 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 increased their target price on Applied Industrial Technologies from $235.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $261.43.

Applied Industrial Technologies Stock Up 2.6 %

Shares of AIT traded up $6.97 during mid-day trading on Monday, reaching $275.20. The company's stock had a trading volume of 235,495 shares, compared to its average volume of 287,714. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. Applied Industrial Technologies, Inc. has a 12-month low of $155.47 and a 12-month high of $275.51. The stock has a market cap of $10.58 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 3.69 and a beta of 1.03. The company's 50 day moving average is $222.81 and its 200 day moving average is $205.26.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the prior year, the business posted $2.39 EPS. The company's revenue for the quarter was up .3% on a year-over-year basis. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 annualized dividend and a dividend yield of 0.54%. Applied Industrial Technologies's dividend payout ratio (DPR) is 15.10%.

Applied Industrial Technologies Company 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.