Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,924 shares of the industrial products company’s stock after acquiring an additional 68 shares during the period. Coldstream Capital Management Inc.’s holdings in Applied Industrial Technologies were worth $429,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Applied Industrial Technologies by 2.4% during the 3rd quarter. State Street Corp now owns 1,441,051 shares of the industrial products company’s stock worth $321,542,000 after purchasing an additional 34,113 shares during the period. Geode Capital Management LLC grew its stake in Applied Industrial Technologies by 4.1% during the third quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company’s stock worth $232,181,000 after buying an additional 40,689 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Applied Industrial Technologies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,317 shares of the industrial products company’s stock worth $127,032,000 after acquiring an additional 3,887 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at $84,139,000. Finally, ArrowMark Colorado Holdings LLC raised its stake in shares of Applied Industrial Technologies by 9.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,335 shares of the industrial products company’s stock valued at $61,882,000 after acquiring an additional 23,710 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $262.07 on Friday. Applied Industrial Technologies, Inc. has a 52 week low of $163.50 and a 52 week high of $282.98. 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 stock has a market cap of $10.08 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 3.71 and a beta of 1.05. The stock has a 50 day moving average of $253.09 and a 200-day moving average of $219.12.

Applied Industrial Technologies (NYSE:AIT) last announced 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business earned $2.39 EPS. On average, analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, November 15th. Applied Industrial Technologies’s payout ratio is currently 15.10%.

Wall Street Analysts Forecast Growth

AIT has been the subject of several recent research reports. StockNews.com upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Loop Capital increased their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Raymond James upped their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, KeyCorp lifted their price objective on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $285.71.

Insiders Place Their Bets

In related news, Director Mary Dean Hall sold 2,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the sale, the director now owns 3,462 shares of the company’s stock, valued at $952,326.96. This represents a 38.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the transaction, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76. This represents a 6.70 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by company insiders.

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.