Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Seizert Capital Partners LLC

Seizert Capital Partners LLC increased its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 35.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 56,567 shares of the industrial products company's stock after acquiring an additional 14,949 shares during the quarter. Seizert Capital Partners LLC owned about 0.15% of Applied Industrial Technologies worth $12,622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in shares of Applied Industrial Technologies in the first quarter worth $25,000. Headlands Technologies LLC bought a new position in Applied Industrial Technologies in the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in Applied Industrial Technologies during the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies during the third quarter valued at about $34,000. Finally, Quarry LP purchased a new stake in shares of Applied Industrial Technologies in the second quarter worth about $39,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT traded down $3.83 during mid-day trading on Friday, reaching $266.73. The stock had a trading volume of 182,504 shares, compared to its average volume of 278,417. The company has a market cap of $10.26 billion, a P/E ratio of 27.22, a price-to-earnings-growth ratio of 3.66 and a beta of 1.03. The business's 50 day moving average price is $230.16 and its 200 day moving average price is $208.23. 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 1 year low of $155.47 and a 1 year high of $276.97.

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

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.55%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.10%.

Analyst Ratings Changes

Several research firms have weighed in on AIT. StockNews.com raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Bank of America lifted their price target on shares of Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. Oppenheimer raised their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research report on Thursday. Robert W. Baird boosted their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, KeyCorp increased their price target on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Two investment 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $267.86.

Insider Activity

In related news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of the business's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares of the company's stock, valued at $3,922,876.50. The trade was a 20.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,927 shares of company stock worth $2,439,116. 1.67% of the stock is currently owned by corporate insiders.

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.