Sendero Wealth Management LLC Decreases Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Sendero Wealth Management LLC cut its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 55.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,215 shares of the industrial products company's stock after selling 1,513 shares during the quarter. Sendero Wealth Management LLC's holdings in Applied Industrial Technologies were worth $291,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AIT. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the second quarter worth about $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $34,000. First Horizon Advisors Inc. boosted its stake in shares of Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock worth $38,000 after acquiring an additional 88 shares in the last quarter. Quarry LP acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $39,000. Finally, UMB Bank n.a. increased its stake in Applied Industrial Technologies by 68.1% in the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Wall Street Analysts Forecast Growth

AIT has been the topic of several research reports. KeyCorp upped their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Mizuho assumed coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $285.00 target price for the company. Robert W. Baird increased their price target 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, Loop Capital raised 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.71.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the business's stock in a transaction dated 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction dated 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 sale, the director now owns 3,462 shares of the company's stock, valued at approximately $952,326.96. This trade represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Trading Up 0.9 %

Shares of NYSE AIT traded up $2.33 during trading on Thursday, hitting $255.43. 224,886 shares of the company traded hands, compared to its average volume of 377,089. The firm has a market capitalization of $9.82 billion, a P/E ratio of 26.06, a P/E/G ratio of 3.36 and a beta of 1.08. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $259.65 and a 200-day moving average price of $228.41. Applied Industrial Technologies, Inc. has a 1 year low of $166.37 and a 1 year high of $282.98.

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

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 0.58%. Applied Industrial Technologies's payout ratio is 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.