F M Investments LLC Has $17.42 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

F M Investments LLC cut its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,090 shares of the industrial products company's stock after selling 2,359 shares during the quarter. F M Investments LLC owned about 0.20% of Applied Industrial Technologies worth $17,424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies in the first quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth about $32,000. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies during the 3rd quarter worth about $34,000. Finally, Quarry LP acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth about $39,000. 93.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the vice president now owns 19,315 shares of the company's stock, 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. Insiders sold 11,927 shares of company stock valued at $2,439,116 over the last 90 days. 1.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Loop Capital boosted their price objective on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, October 28th. StockNews.com raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Mizuho began coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $285.00 target price on the stock. Robert W. Baird lifted 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. Finally, Bank of America lifted their target price on Applied Industrial Technologies from $232.00 to $240.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $261.43.

Applied Industrial Technologies Stock Down 0.0 %

Shares of NYSE AIT traded down $0.09 during trading hours on Friday, hitting $231.50. The stock had a trading volume of 145,438 shares, compared to its average volume of 286,601. The company has a market capitalization of $8.90 billion, a P/E ratio of 23.62, a P/E/G ratio of 3.25 and a beta of 1.03. The firm's 50-day moving average price is $217.87 and its two-hundred day moving average price is $202.68. Applied Industrial Technologies, Inc. has a 52 week low of $153.13 and a 52 week high of $240.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The firm's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.39 EPS. Analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.37 per share. The ex-dividend date 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 currently 15.10%.

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.