Thrivent Financial for Lutherans Buys 18,752 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Thrivent Financial for Lutherans boosted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 139.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,179 shares of the industrial products company's stock after buying an additional 18,752 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Applied Industrial Technologies worth $7,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in Applied Industrial Technologies in the 1st quarter worth approximately $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 bought a new position in Applied Industrial Technologies in the 2nd quarter worth about $32,000. V Square Quantitative Management LLC purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at about $34,000. Finally, Quarry LP bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at about $39,000. Institutional investors own 93.52% of the company's stock.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the sale, the vice president now directly owns 19,315 shares of the company's stock, valued at approximately $3,922,876.50. This represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.67% of the company's stock.

Applied Industrial Technologies Trading Up 2.9 %

Shares of NYSE:AIT traded up $7.88 during midday trading on Friday, hitting $277.11. 295,244 shares of the stock traded hands, compared to its average volume of 248,681. 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 stock has a market capitalization of $10.65 billion, a PE ratio of 28.28, a P/E/G ratio of 3.69 and a beta of 1.03. Applied Industrial Technologies, Inc. has a one year low of $155.47 and a one year high of $277.63. The business's 50 day moving average is $237.10 and its two-hundred day moving average is $210.98.

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 for the quarter, topping the consensus estimate of $2.25 by $0.11. The business had revenue of $1.10 billion during 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 business's revenue was up .3% on a year-over-year basis. During the same quarter last year, the business posted $2.39 EPS. As a group, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current 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 dividend of $0.37 per share. The ex-dividend date is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.53%. Applied Industrial Technologies's payout ratio is 15.10%.

Wall Street Analysts Forecast Growth

AIT has been the subject of several research reports. Oppenheimer upped 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 report on Thursday, November 14th. Mizuho initiated coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 price objective for the company. StockNews.com raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Loop Capital upped 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. Finally, KeyCorp lifted 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $267.86.

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.