Romano Brothers AND Company Reduces Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Romano Brothers AND Company decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 27,362 shares of the industrial products company’s stock after selling 349 shares during the period. Romano Brothers AND Company’s holdings in Applied Industrial Technologies were worth $6,105,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. raised its position in Applied Industrial Technologies by 0.9% in the second quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock worth $1,254,000 after acquiring an additional 55 shares during the period. Miller Howard Investments Inc. NY increased its position in Applied Industrial Technologies by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock worth $446,000 after buying an additional 55 shares in the last quarter. Measured Wealth Private Client Group LLC increased its position in Applied Industrial Technologies by 1.2% in the first quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock worth $969,000 after buying an additional 59 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Applied Industrial Technologies by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock worth $3,374,000 after buying an additional 61 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Applied Industrial Technologies by 2.6% during the 1st quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock valued at $490,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insiders Place Their Bets

In other news, VP Kurt W. Loring sold 3,366 shares of the firm’s 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 completion of the sale, the vice president now owns 19,315 shares in the company, valued at approximately $4,037,221.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the firm’s 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 completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $4,037,221.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,927 shares of company stock valued at $2,439,116 over the last three months. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AIT has been the topic of a number of recent analyst reports. Northcoast Research started coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating on the stock. Loop Capital lifted their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. StockNews.com upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. KeyCorp boosted their price objective on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird lifted their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.14.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $223.81 on Thursday. The company’s 50-day moving average price is $213.57 and its 200-day moving average price is $200.68. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. The company has a market cap of $8.64 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. Applied Industrial Technologies, Inc. has a twelve month low of $149.59 and a twelve month high of $235.75.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 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 .2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 earnings per share. On average, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current fiscal year.

Applied Industrial Technologies 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.