Loomis Sayles & Co. L P Has $54.38 Million Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Loomis Sayles & Co. L P reduced its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 17.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,717 shares of the industrial products company's stock after selling 50,961 shares during the quarter. Loomis Sayles & Co. L P owned 0.63% of Applied Industrial Technologies worth $54,380,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new position in shares of Applied Industrial Technologies in the 1st quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at about $34,000. Finally, First Horizon Advisors Inc. lifted its position 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. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Applied Industrial Technologies

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 value of $986,659.80. Following the transaction, the vice president now owns 19,315 shares in the company, valued at approximately $3,922,876.50. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.67% of the company's stock.

Applied Industrial Technologies Stock Performance

AIT stock traded up $2.16 during trading on Tuesday, reaching $280.71. 439,998 shares of the company's stock were exchanged, compared to its average volume of 286,238. The firm has a market cap of $10.79 billion, a PE ratio of 28.43, a P/E/G ratio of 3.80 and a beta of 1.03. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a 1-year low of $155.47 and a 1-year high of $282.32. The company's fifty day moving average price is $238.50 and its 200-day moving average price is $211.80.

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 the consensus estimate of $2.25 by $0.11. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. Applied Industrial Technologies's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $2.39 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal 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 dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.10%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird boosted their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. StockNews.com raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Mizuho began coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 price target on the stock. Raymond James increased their price objective 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, Bank of America raised Applied Industrial Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $285.00 to $315.00 in a report on Tuesday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $278.57.

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.