Creative Planning Has $2.51 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Creative Planning lifted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 27.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,239 shares of the industrial products company's stock after purchasing an additional 2,400 shares during the quarter. Creative Planning's holdings in Applied Industrial Technologies were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in Applied Industrial Technologies in the 1st quarter worth approximately $593,000. American International Group Inc. grew its holdings in Applied Industrial Technologies by 232.6% in the 1st quarter. American International Group Inc. now owns 69,901 shares of the industrial products company's stock worth $13,809,000 after buying an additional 48,883 shares in the last quarter. State of Michigan Retirement System bought a new position in Applied Industrial Technologies in the 1st quarter worth approximately $1,877,000. Sanctuary Advisors LLC bought a new position in Applied Industrial Technologies in the 2nd quarter worth approximately $1,279,000. Finally, Van ECK Associates Corp boosted its stake in Applied Industrial Technologies by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 15,263 shares of the industrial products company's stock valued at $3,015,000 after purchasing an additional 4,082 shares in the last quarter. 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 business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Kurt W. Loring sold 4,858 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock worth $2,439,116 over the last 90 days. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AIT shares. Loop Capital increased their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a "buy" rating in a research note on Monday. KeyCorp increased their price target on Applied Industrial Technologies from $245.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday. Northcoast Research started coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They set a "neutral" rating for the company. StockNews.com raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Finally, Oppenheimer increased their price target on Applied Industrial Technologies from $235.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday. 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 data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and an average target price of $261.43.

Applied Industrial Technologies Trading Up 0.9 %

AIT stock traded up $2.02 during mid-day trading on Monday, reaching $233.32. 172,453 shares of the stock traded hands, compared to its average volume of 288,515. Applied Industrial Technologies, Inc. has a 52-week low of $149.59 and a 52-week high of $240.45. The stock's fifty day moving average is $214.79 and its 200-day moving average is $201.24. The company has a market cap of $9.01 billion, a P/E ratio of 24.38, a P/E/G 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 released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business earned $2.39 earnings per share. The firm's revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.69 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

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 issued 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 dividend yield of 0.63%. Applied Industrial Technologies's dividend payout ratio is currently 15.51%.

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.