Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Kessler Investment Group LLC

Kessler Investment Group LLC lessened its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 24.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 482 shares of the industrial products company’s stock after selling 160 shares during the period. Kessler Investment Group LLC’s holdings in Applied Industrial Technologies were worth $108,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Dundas Partners LLP purchased a new position in Applied Industrial Technologies during the 2nd quarter worth $46,805,000. Nordea Investment Management AB purchased a new stake in Applied Industrial Technologies during the first quarter worth $39,093,000. Retirement Systems of Alabama acquired a new position in shares of Applied Industrial Technologies during the 1st quarter worth $19,263,000. F M Investments LLC purchased a new position in Applied Industrial Technologies during the 2nd quarter valued at about $15,690,000. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Applied Industrial Technologies by 91.5% in the first quarter. TimesSquare Capital Management LLC now owns 114,977 shares of the industrial products company’s stock valued at $22,714,000 after purchasing an additional 54,927 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction that occurred 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 owns 19,315 shares in the company, valued at approximately $3,922,876.50. 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 can be accessed through this link. In related news, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $986,659.80. Following the completion of the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,927 shares of company stock worth $2,439,116. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Stock Down 1.7 %

Shares of Applied Industrial Technologies stock traded down $3.91 on Tuesday, hitting $226.07. 20,657 shares of the company’s stock traded hands, compared to its average volume of 285,704. Applied Industrial Technologies, Inc. has a 52-week low of $149.59 and a 52-week high of $235.75. 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 stock has a market cap of $8.73 billion, a P/E ratio of 24.11, a PEG ratio of 3.12 and a beta of 1.03. The firm’s 50-day moving average is $212.49 and its 200 day moving average is $200.31.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the firm earned $2.35 EPS. The company’s revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AIT shares. Northcoast Research began coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating for the company. Loop Capital upped their price objective 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 downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. KeyCorp upped their price target on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Raymond James began coverage on shares of Applied Industrial Technologies in a research note on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

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.