Atom Investors LP Has $605,000 Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Atom Investors LP lessened its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.7% in the third quarter, HoldingsChannel reports. The fund owned 2,713 shares of the industrial products company’s stock after selling 194 shares during the quarter. Atom Investors LP’s holdings in Applied Industrial Technologies were worth $605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIT. Westfield Capital Management Co. LP acquired a new stake in Applied Industrial Technologies in the 3rd quarter valued at $32,233,000. Sanctuary Advisors LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $1,279,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Applied Industrial Technologies in the third quarter worth approximately $3,591,000. Janney Montgomery Scott LLC lifted its holdings in shares of Applied Industrial Technologies by 126.0% in the third quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company’s stock valued at $981,000 after purchasing an additional 2,451 shares in the last quarter. Finally, Dana Investment Advisors Inc. boosted its position in shares of Applied Industrial Technologies by 0.7% during the second quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock valued at $1,928,000 after buying an additional 65 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on AIT. Mizuho initiated coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective on the stock. Robert W. Baird boosted their price target on shares of 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. Oppenheimer boosted their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, KeyCorp increased their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $285.71.

Insider Activity at Applied Industrial Technologies

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

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $277.13 on Wednesday. The business’s 50 day simple moving average is $245.22 and its 200 day simple moving average is $215.13. Applied Industrial Technologies, Inc. has a 12 month low of $162.19 and a 12 month high of $282.98. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 3.74 and a beta of 1.05. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33.

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 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 last year, the firm posted $2.39 EPS. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

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.