International Assets Investment Management LLC Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

International Assets Investment Management LLC acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 95,723 shares of the industrial products company's stock, valued at approximately $213,590,000. International Assets Investment Management LLC owned approximately 0.25% of Applied Industrial Technologies as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies during the first quarter worth $25,000. Headlands Technologies LLC bought a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC bought a new position in Applied Industrial Technologies during the third quarter worth about $34,000. Finally, Quarry LP acquired a new position in Applied Industrial Technologies during the second quarter worth approximately $39,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the business'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 transaction of $703,561.32. Following the completion of the transaction, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the transaction, the chief executive officer now directly owns 205,708 shares of the company's stock, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock valued at $2,439,116 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AIT shares. Northcoast Research began coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They set a "neutral" rating for the company. Mizuho assumed coverage on shares of Applied Industrial Technologies in a report on Tuesday. They issued an "outperform" rating and a $285.00 price objective on the stock. Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $235.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday. Raymond James lifted their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Bank of America increased their price target on shares of Applied Industrial Technologies from $232.00 to $240.00 and gave the company a "neutral" rating in a report on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $255.71.

Applied Industrial Technologies Stock Performance

NYSE AIT traded down $0.65 during trading on Friday, reaching $231.32. The company's stock had a trading volume of 302,580 shares, compared to its average volume of 289,076. Applied Industrial Technologies, Inc. has a 12 month low of $149.59 and a 12 month high of $240.45. The firm has a 50 day moving average price of $214.79 and a 200 day moving average price of $201.14. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company's revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $2.39 EPS. As a group, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders 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 dividend on an annualized basis and a yield of 0.64%. Applied Industrial Technologies's payout ratio is 15.51%.

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.