Los Angeles Capital Management LLC Sells 29,216 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Los Angeles Capital Management LLC trimmed its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 96.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 923 shares of the industrial products company's stock after selling 29,216 shares during the quarter. Los Angeles Capital Management LLC's holdings in Applied Industrial Technologies were worth $206,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AIT. EntryPoint Capital LLC purchased a new position in Applied Industrial Technologies during the 1st quarter worth $25,000. Headlands Technologies LLC bought a new position in Applied Industrial Technologies during the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $32,000. V Square Quantitative Management LLC bought a new stake in Applied Industrial Technologies during the 3rd quarter valued at $34,000. Finally, Quarry LP purchased a new stake in Applied Industrial Technologies during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Down 0.4 %

Shares of Applied Industrial Technologies stock traded down $0.96 during trading on Tuesday, reaching $266.30. The company had a trading volume of 100,300 shares, compared to its average volume of 285,525. Applied Industrial Technologies, Inc. has a fifty-two week low of $155.47 and a fifty-two week high of $276.97. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 3.66 and a beta of 1.03. The firm's fifty day moving average is $231.56 and its 200-day moving average is $209.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78.

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. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $2.39 EPS. On average, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared 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 is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.56%. Applied Industrial Technologies's dividend payout ratio (DPR) is 15.10%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $203.10, for a total value 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.67% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on AIT. StockNews.com raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Bank of America upped 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 report on Friday, October 25th. KeyCorp raised their price objective on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Oppenheimer lifted their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Finally, Loop Capital raised their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $267.86.

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.