F M Investments LLC Has $17.42 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

F M Investments LLC decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 78,090 shares of the industrial products company’s stock after selling 2,359 shares during the period. F M Investments LLC’s holdings in Applied Industrial Technologies were worth $17,424,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AIT. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies in the first quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in Applied Industrial Technologies during the second quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in Applied Industrial Technologies in the second quarter valued at $32,000. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies during the 3rd quarter worth about $34,000. Finally, Quarry LP bought a new position in shares of Applied Industrial Technologies in the 2nd quarter worth about $39,000. 93.52% of the stock is owned by institutional investors.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies 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 value of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares in the company, valued at approximately $3,922,876.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction on Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock valued at $2,439,116 over the last ninety days. Corporate insiders own 1.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AIT. KeyCorp upped 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. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Raymond James increased their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Mizuho started coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $261.43.

Applied Industrial Technologies Stock Down 0.0 %

NYSE AIT traded down $0.09 during trading hours on Friday, hitting $231.50. The company’s stock had a trading volume of 145,438 shares, compared to its average volume of 286,601. 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 company’s 50-day simple moving average is $217.87 and its two-hundred day simple moving average is $202.58. The company has a market capitalization of $8.90 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 3.25 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 52 week low of $153.13 and a 52 week high of $240.45.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned $2.39 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 EPS 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. Stockholders of record on Friday, November 15th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.64%. Applied Industrial Technologies’s dividend payout ratio is currently 15.10%.

About Applied Industrial Technologies

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.