Applied Industrial Technologies, Inc. (NYSE:AIT) Holdings Decreased by Pitcairn Co.

Pitcairn Co. reduced its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,663 shares of the industrial products company’s stock after selling 298 shares during the period. Pitcairn Co.’s holdings in Applied Industrial Technologies were worth $594,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AIT. EntryPoint Capital LLC acquired a new stake in shares of Applied Industrial Technologies during the 1st quarter worth approximately $25,000. Quadrature Capital Ltd acquired a new position in shares of Applied Industrial Technologies during the first quarter valued at $593,000. Price T Rowe Associates Inc. MD grew its position in shares of Applied Industrial Technologies by 6.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,607 shares of the industrial products company’s stock worth $4,467,000 after acquiring an additional 1,461 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Applied Industrial Technologies by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 38,676 shares of the industrial products company’s stock valued at $7,640,000 after purchasing an additional 1,691 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Applied Industrial Technologies by 7.5% in the first quarter. Tidal Investments LLC now owns 2,114 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 147 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $278.57 on Tuesday. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a 12 month low of $155.47 and a 12 month high of $282.32. The company’s fifty day moving average is $238.50 and its 200-day moving average is $211.80. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 3.80 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating 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 22.68% and a net margin of 8.57%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.39 EPS. Equities analysts expect that Applied Industrial Technologies, Inc. will post 9.76 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. Investors 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 yield of 0.53%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the firm’s 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 sale, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. This trade represents a 20.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AIT. Robert W. Baird increased their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. 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 raised their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Loop Capital boosted their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, KeyCorp lifted their price target 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. Two equities research 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $267.86.

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.