Raymond James & Associates Has $3.26 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Raymond James & Associates raised its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 19.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,612 shares of the industrial products company's stock after buying an additional 2,371 shares during the period. Raymond James & Associates' holdings in Applied Industrial Technologies were worth $3,260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AIT. Blue Trust Inc. boosted its position in Applied Industrial Technologies by 2.4% during the third quarter. Blue Trust Inc. now owns 12,742 shares of the industrial products company's stock valued at $2,843,000 after purchasing an additional 298 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth about $231,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $34,000. nVerses Capital LLC bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at approximately $156,000. Finally, NBC Securities Inc. grew its stake in shares of Applied Industrial Technologies by 59.5% in the 3rd quarter. NBC Securities Inc. now owns 1,853 shares of the industrial products company's stock valued at $413,000 after buying an additional 691 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Applied Industrial Technologies 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 completion of the transaction, the vice president now owns 19,315 shares of the company's stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 23rd. The shares were 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 approximately $4,037,221.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction dated Friday, August 30th. The stock was 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 $3,922,876.50. 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 over the last three months. 1.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AIT has been the subject of a number of analyst reports. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $235.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Bank of America upped their price objective on shares of Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a "neutral" rating in a report on Friday, October 25th. KeyCorp increased their target price on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. StockNews.com raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird increased their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $261.43.

Applied Industrial Technologies Stock Performance

AIT traded up $1.16 during midday trading on Monday, reaching $232.66. The company's stock had a trading volume of 175,068 shares, compared to its average volume of 286,077. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $217.87 and a 200 day simple moving average of $202.81. The stock has a market cap of $8.95 billion, a P/E ratio of 23.62, a PEG ratio of 3.18 and a beta of 1.03. Applied Industrial Technologies, Inc. has a twelve month low of $155.25 and a twelve month high of $240.45.

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

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies's payout ratio is presently 15.10%.

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.