Dakota Wealth Management Has $291,000 Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Dakota Wealth Management cut its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 73.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,305 shares of the industrial products company's stock after selling 3,544 shares during the period. Dakota Wealth Management's holdings in Applied Industrial Technologies were worth $291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new position in shares of Applied Industrial Technologies during the first quarter valued at $25,000. Headlands Technologies LLC purchased a new position in Applied Industrial Technologies in the second quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in Applied Industrial Technologies in the second quarter valued at about $32,000. V Square Quantitative Management LLC purchased a new position in Applied Industrial Technologies in the third quarter valued at about $34,000. Finally, Quarry LP purchased a new position in Applied Industrial Technologies in the second quarter valued at about $39,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AIT shares. Mizuho started coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 target price on the stock. 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. Robert W. Baird boosted their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Oppenheimer boosted their price target on Applied Industrial Technologies from $235.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Bank of America boosted their price target on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a "neutral" rating in a research report on Friday. 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, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and an average target price of $261.43.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT traded up $2.01 during trading hours on Tuesday, hitting $235.40. 180,696 shares of the company's stock were exchanged, compared to its average volume of 288,000. Applied Industrial Technologies, Inc. has a 1-year low of $149.59 and a 1-year high of $240.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.12 and a beta of 1.03. The company's 50-day moving average price is $215.47 and its 200-day moving average price is $201.53.

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 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the previous year, the firm earned $2.39 EPS. The firm's revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.69 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.37 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 0.63%. Applied Industrial Technologies's dividend payout ratio (DPR) is 15.51%.

Insider Activity

In other news, VP Kurt W. Loring sold 4,858 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the sale, the vice president now directly owns 19,315 shares in the company, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total transaction of $703,561.32. Following the sale, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the sale, the vice president now owns 19,315 shares in the company, valued at approximately $3,922,876.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,927 shares of company stock worth $2,439,116. Company insiders own 2.20% of the company's stock.

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.