TimesSquare Capital Management LLC Sells 28,595 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

TimesSquare Capital Management LLC decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 27.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,865 shares of the industrial products company's stock after selling 28,595 shares during the quarter. TimesSquare Capital Management LLC owned about 0.19% of Applied Industrial Technologies worth $16,705,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AIT. GHP Investment Advisors Inc. raised its holdings in Applied Industrial Technologies by 3.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company's stock worth $255,000 after buying an additional 43 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Applied Industrial Technologies by 0.9% during the 2nd quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company's stock valued at $1,254,000 after purchasing an additional 55 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in shares of Applied Industrial Technologies by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company's stock worth $446,000 after buying an additional 55 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Applied Industrial Technologies by 0.4% during the second quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company's stock worth $3,374,000 after purchasing an additional 61 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in shares of Applied Industrial Technologies by 2.6% during the 1st quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company's stock worth $490,000 after buying an additional 62 shares during the period. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock traded up $7.03 during mid-day trading on Monday, reaching $275.26. 274,210 shares of the stock were exchanged, compared to its average volume of 287,821. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 3.69 and a beta of 1.03. Applied Industrial Technologies, Inc. has a fifty-two week low of $155.47 and a fifty-two week high of $275.51. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The firm has a 50-day simple moving average of $222.81 and a 200 day simple moving average of $205.26.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Thursday, October 24th. The industrial products company reported $2.36 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 the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned $2.39 EPS. Applied Industrial Technologies's revenue was up .3% compared to the same quarter last year. On average, sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.74 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 paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.54%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.10%.

Insider Activity at Applied Industrial Technologies

In related news, 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 transaction, the vice president now owns 19,315 shares in the company, valued at $3,922,876.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the company's 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 transaction, the vice president now directly owns 19,315 shares in the company, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company's stock, valued at approximately $41,602,385.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,927 shares of company stock valued at $2,439,116 over the last ninety days. 1.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AIT shares. Bank of America lifted their price objective on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. KeyCorp increased their price objective on Applied Industrial Technologies from $245.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, Oppenheimer boosted their price objective on shares of Applied Industrial Technologies from $235.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $261.43.

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.