915 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Acquired by Insight Folios Inc

Insight Folios Inc acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 915 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in shares of Applied Industrial Technologies during the 1st quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter worth about $26,000. V Square Quantitative Management LLC bought a new stake in Applied Industrial Technologies in the 3rd quarter valued at about $34,000. Opal Wealth Advisors LLC purchased a new stake in Applied Industrial Technologies during the second quarter valued at about $32,000. Finally, UMB Bank n.a. lifted its holdings in Applied Industrial Technologies by 68.1% during the third 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 during the last quarter. 93.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction 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 transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was 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 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 Securities & Exchange Commission, which can be accessed through this link. Also, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock valued at $2,439,116 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIT. Robert W. Baird lifted 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 note on Wednesday, October 16th. Mizuho assumed coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price objective for the company. Northcoast Research started coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating on the stock. Bank of America lifted their price target on Applied Industrial Technologies from $232.00 to $240.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Oppenheimer boosted their price objective on Applied Industrial Technologies from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.71.

Applied Industrial Technologies Trading Down 0.3 %

Applied Industrial Technologies stock opened at $231.30 on Monday. The stock has a market cap of $8.93 billion, a P/E ratio of 24.25, a PEG ratio of 3.12 and a beta of 1.03. Applied Industrial Technologies, Inc. has a fifty-two week low of $149.59 and a fifty-two week high of $240.45. The firm’s fifty day moving average price is $214.79 and its 200-day moving average price is $201.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.39 EPS. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.69 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business 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 dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 0.64%. Applied Industrial Technologies’s payout ratio is presently 15.51%.

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.