Oliver Luxxe Assets LLC Makes New $1.32 Million Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

Oliver Luxxe Assets LLC acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,523 shares of the industrial products company's stock, valued at approximately $1,323,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Applied Industrial Technologies in the third quarter valued at $34,000. First Horizon Advisors Inc. lifted its stake in shares of Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 88 shares during the last quarter. Quarry LP purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter worth $39,000. Finally, UMB Bank n.a. increased its position in shares of Applied Industrial Technologies by 68.1% during 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 last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Insider Buying and Selling

In related news, VP Warren E. Hoffner III sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares in the company, valued at $15,689,882.76. The trade was a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Dean Hall sold 2,200 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the transaction, the director now directly owns 3,462 shares of the company's stock, valued at $952,326.96. This trade represents a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.67% of the company's stock.

Applied Industrial Technologies Stock Down 0.5 %

AIT traded down $1.19 on Tuesday, hitting $248.39. 871,964 shares of the company were exchanged, compared to its average volume of 533,815. The firm has a 50-day moving average price of $258.39 and a two-hundred day moving average price of $225.64. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a twelve month low of $163.50 and a twelve month high of $282.98. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.71 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The business's revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 earnings per share. On average, equities analysts predict that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.60%. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 15.10%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. KeyCorp increased their target price on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Raymond James lifted their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Bank of America upgraded Applied Industrial Technologies from a "neutral" rating to a "buy" rating and upped their price target for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Oppenheimer lifted their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Finally, Loop Capital increased their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $285.71.

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.