Boston Trust Walden Corp Reduces Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Boston Trust Walden Corp lessened its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 575,955 shares of the industrial products company's stock after selling 54,960 shares during the quarter. Applied Industrial Technologies makes up approximately 0.9% of Boston Trust Walden Corp's investment portfolio, making the stock its 21st largest position. Boston Trust Walden Corp owned 1.49% of Applied Industrial Technologies worth $128,513,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. EntryPoint Capital LLC purchased a new position in Applied Industrial Technologies in the first quarter valued at approximately $25,000. Headlands Technologies LLC bought a new stake in Applied Industrial Technologies in the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at $34,000. Opal Wealth Advisors LLC bought a new position in shares of Applied Industrial Technologies during the second quarter valued at about $32,000. Finally, UMB Bank n.a. increased its stake in Applied Industrial Technologies by 68.1% in the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company's stock worth $42,000 after purchasing an additional 77 shares during the period. 93.52% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now directly owns 205,708 shares of the company's stock, valued at $41,602,385.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Neil A. Schrimsher sold 3,703 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the sale, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the transaction, the vice president now directly owns 19,315 shares of the company's stock, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock worth $2,439,116 over the last 90 days. Corporate insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AIT. Raymond James boosted their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday. Bank of America boosted their target price on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a "neutral" rating in a report on Friday. Robert W. Baird upped their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Northcoast Research started coverage on shares of Applied Industrial Technologies in a report on Monday, July 1st. They issued a "neutral" rating for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $255.71.

Applied Industrial Technologies Stock Performance

NYSE AIT traded down $0.67 on Friday, reaching $231.30. 302,580 shares of the stock were exchanged, compared to its average volume of 289,076. The company's 50-day simple moving average is $214.79 and its two-hundred day simple moving average is $201.18. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $8.93 billion, a PE ratio of 24.25, a PEG ratio of 3.12 and a beta of 1.03. Applied Industrial Technologies, Inc. has a one year low of $149.59 and a one year high of $240.45.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company posted $2.39 earnings per share. The business's quarterly revenue was up .3% compared to the same quarter last year. Analysts expect that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.51%.

Applied Industrial Technologies 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.