WCM Investment Management LLC Has $26.35 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

WCM Investment Management LLC decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,141 shares of the industrial products company's stock after selling 5,116 shares during the period. WCM Investment Management LLC owned about 0.31% of Applied Industrial Technologies worth $26,353,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AIT. Boston Trust Walden Corp boosted its position in Applied Industrial Technologies by 1.2% during the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company's stock worth $122,398,000 after purchasing an additional 7,720 shares during the period. Dundas Partners LLP bought a new stake in shares of Applied Industrial Technologies during the second quarter worth $46,805,000. Handelsbanken Fonder AB grew its holdings in shares of Applied Industrial Technologies by 28.7% during the third quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company's stock worth $49,495,000 after purchasing an additional 49,500 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Applied Industrial Technologies by 18.2% during the second quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company's stock worth $39,659,000 after purchasing an additional 31,514 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Applied Industrial Technologies by 65.6% during the third quarter. New York State Common Retirement Fund now owns 144,621 shares of the industrial products company's stock worth $32,269,000 after purchasing an additional 57,283 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the sale, the vice president now owns 19,315 shares of the company's stock, valued at approximately $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the sale, the vice president now owns 19,315 shares of the company's stock, valued at approximately $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now directly owns 205,708 shares of the company's stock, valued at approximately $41,602,385.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,927 shares of company stock worth $2,439,116. 1.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Raymond James increased their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. KeyCorp lifted their target price 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 price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Oppenheimer lifted their target price on Applied Industrial Technologies from $235.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, Mizuho started coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $285.00 target price for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $261.43.

Applied Industrial Technologies Price Performance

NYSE AIT traded up $7.03 during midday trading on Monday, hitting $275.26. The company had a trading volume of 274,210 shares, compared to its average volume of 287,821. 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 twelve month low of $155.47 and a twelve month high of $275.51. The company has a market capitalization of $10.58 billion, a PE ratio of 28.09, a P/E/G ratio of 3.69 and a beta of 1.03. The firm has a 50-day moving average price of $222.81 and a 200-day moving average price of $205.26.

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 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.11. The company 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%. Applied Industrial Technologies's revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.39 EPS. As a group, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.37 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 0.54%. Applied Industrial Technologies's dividend payout ratio is presently 15.10%.

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.