Robeco Institutional Asset Management B.V. Sells 19,421 Shares of Applied Industrial Technologies (AIT)

Robeco Institutional Asset Management B.V. reduced its holdings in shares of Applied Industrial Technologies (NYSE:AIT) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 519,413 shares of the industrial products company’s stock after selling 19,421 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Applied Industrial Technologies were worth $40,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AIT. Rhumbline Advisers grew its holdings in shares of Applied Industrial Technologies by 2.0% in the second quarter. Rhumbline Advisers now owns 98,650 shares of the industrial products company’s stock worth $6,920,000 after purchasing an additional 1,891 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Applied Industrial Technologies in the second quarter worth approximately $248,000. Piedmont Investment Advisors LLC grew its holdings in shares of Applied Industrial Technologies by 9.0% in the second quarter. Piedmont Investment Advisors LLC now owns 9,009 shares of the industrial products company’s stock worth $632,000 after purchasing an additional 743 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Applied Industrial Technologies by 11.9% in the second quarter. OppenheimerFunds Inc. now owns 25,294 shares of the industrial products company’s stock worth $1,774,000 after purchasing an additional 2,688 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of Applied Industrial Technologies by 0.9% in the second quarter. California Public Employees Retirement System now owns 126,592 shares of the industrial products company’s stock worth $8,880,000 after purchasing an additional 1,120 shares during the last quarter. Institutional investors and hedge funds own 89.34% of the company’s stock.

Several brokerages have recently issued reports on AIT. ValuEngine cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Zacks Investment Research cut shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Northcoast Research restated a “neutral” rating on shares of Applied Industrial Technologies in a report on Friday, August 10th. Wellington Shields upgraded shares of Applied Industrial Technologies from a “gradually accumulate” rating to a “buy” rating in a report on Monday, August 13th. Finally, Wells Fargo & Co raised their target price on shares of Applied Industrial Technologies from $73.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $81.50.



In related news, Director L Thomas Hiltz sold 12,500 shares of Applied Industrial Technologies stock in a transaction on Monday, August 20th. The shares were sold at an average price of $77.15, for a total value of $964,375.00. Following the sale, the director now owns 1,544 shares in the company, valued at $119,119.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

NYSE:AIT opened at $66.63 on Friday. The firm has a market capitalization of $2.58 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.19 and a beta of 0.87. Applied Industrial Technologies has a twelve month low of $59.65 and a twelve month high of $82.35. The company has a current ratio of 2.45, a quick ratio of 1.47 and a debt-to-equity ratio of 1.16.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Friday, August 10th. The industrial products company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.03. The business had revenue of $897.70 million for the quarter, compared to analysts’ expectations of $882.74 million. Applied Industrial Technologies had a net margin of 4.61% and a return on equity of 18.34%. The firm’s revenue for the quarter was up 135.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, analysts predict that Applied Industrial Technologies will post 4.65 earnings per share for the current fiscal year.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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