Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Stifel Financial Corp

Stifel Financial Corp lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,694 shares of the industrial products company's stock after purchasing an additional 2,513 shares during the period. Stifel Financial Corp owned about 0.08% of Applied Industrial Technologies worth $6,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AIT. Dundas Partners LLP bought a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $46,805,000. Westfield Capital Management Co. LP bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at $32,233,000. Fiera Capital Corp lifted its stake in shares of Applied Industrial Technologies by 456.3% during the 3rd quarter. Fiera Capital Corp now owns 130,895 shares of the industrial products company's stock valued at $29,207,000 after buying an additional 107,365 shares in the last quarter. International Assets Investment Management LLC bought a new position in Applied Industrial Technologies in the 3rd quarter worth $213,590,000. Finally, F M Investments LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter worth $15,690,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Down 2.2 %

Shares of AIT stock traded down $5.93 on Friday, hitting $262.07. The stock had a trading volume of 309,753 shares, compared to its average volume of 283,830. Applied Industrial Technologies, Inc. has a one year low of $163.50 and a one year high of $282.98. The business has a 50 day moving average price of $252.28 and a 200 day moving average price of $218.50. The company has a market cap of $10.08 billion, a PE ratio of 26.74, a P/E/G ratio of 3.71 and a beta of 1.05. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. 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 earnings per share. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 0.56%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.10%.

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 firm's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the transaction, the vice president now owns 55,709 shares of the company's stock, valued at approximately $15,689,882.76. This trade represents a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Dean Hall sold 2,200 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the sale, the director now directly owns 3,462 shares in the company, 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AIT. StockNews.com raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Mizuho initiated coverage on 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. KeyCorp upped their price objective on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. 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. Finally, Robert W. Baird upped their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.