Applied Industrial Technologies, Inc. (NYSE:AIT) is Grace & White Inc. NY's Largest Position

Grace & White Inc. NY decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 1.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 151,816 shares of the industrial products company's stock after selling 2,500 shares during the period. Applied Industrial Technologies comprises about 6.1% of Grace & White Inc. NY's holdings, making the stock its largest holding. Grace & White Inc. NY owned about 0.39% of Applied Industrial Technologies worth $33,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in shares of Applied Industrial Technologies in the 1st quarter worth approximately $25,000. Headlands Technologies LLC purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $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 purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $34,000. Finally, Quarry LP purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 3,703 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 205,708 shares of the company's stock, valued at approximately $41,602,385.92. This trade represents 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 this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the sale, the vice president now owns 19,315 shares in the company, valued at approximately $4,037,221.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 205,708 shares of the company's stock, valued at $41,602,385.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,927 shares of company stock valued at $2,439,116. 2.20% of the stock is owned by company insiders.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT traded down $3.76 during midday trading on Tuesday, hitting $226.22. 238,399 shares of the stock traded hands, compared to its average volume of 286,765. The firm has a 50-day moving average of $213.07 and a two-hundred day moving average of $200.52. The firm has a market capitalization of $8.73 billion, a P/E ratio of 23.71, a PEG ratio of 3.12 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. Applied Industrial Technologies, Inc. has a one year low of $149.59 and a one year high of $235.75.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the firm earned $2.35 EPS. The company's revenue was up .2% compared to the same quarter last year. On average, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Loop Capital increased their target price on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Friday, August 16th. Raymond James assumed coverage on Applied Industrial Technologies in a research note on Wednesday, September 4th. They set an "outperform" rating and a $225.00 target price on the stock. KeyCorp increased their target price on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Mizuho assumed coverage on Applied Industrial Technologies in a research note on Tuesday. They set an "outperform" rating and a $285.00 target price on the stock. Finally, StockNews.com upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $243.14.

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.