Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 87.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 870 shares of the industrial products company's stock after selling 6,199 shares during the period. Sanctuary Advisors LLC's holdings in Applied Industrial Technologies were worth $194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Applied Industrial Technologies during the third quarter valued at approximately $34,000. First Horizon Advisors Inc. lifted its position in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 88 shares during the last quarter. Quarry LP acquired a new stake in Applied Industrial Technologies in the second quarter valued at approximately $39,000. Finally, UMB Bank n.a. grew its holdings in Applied Industrial Technologies by 68.1% in the third 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. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the company'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 value of $1,126,560.00. Following the completion of the sale, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76. This represents 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 at this link. Also, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the transaction, the director now owns 3,462 shares in the company, valued at approximately $952,326.96. This represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.67% of the company's stock.

Applied Industrial Technologies Stock Performance

AIT stock traded down $2.89 during midday trading on Monday, hitting $238.66. 184,499 shares of the stock traded hands, compared to its average volume of 286,620. Applied Industrial Technologies, Inc. has a 1-year low of $163.50 and a 1-year high of $282.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The stock's fifty day simple moving average is $257.06 and its 200-day simple moving average is $223.67. The firm has a market cap of $9.18 billion, a P/E ratio of 24.35, a PEG ratio of 3.71 and a beta of 1.05.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.11. The firm had revenue of $1.10 billion for 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 company's quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $2.39 EPS. On average, analysts expect that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.62%. Applied Industrial Technologies's dividend payout ratio (DPR) is 15.10%.

Wall Street Analyst Weigh In

AIT has been the topic of several research analyst reports. Robert W. Baird boosted their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Raymond James upped their price objective 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. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. KeyCorp upped their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Finally, Loop Capital lifted their price objective on shares of 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Applied Industrial Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $285.71.

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.