Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,704 shares of the industrial products company’s stock after acquiring an additional 1,706 shares during the period. Advisors Asset Management Inc.’s holdings in Applied Industrial Technologies were worth $3,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AIT. GHP Investment Advisors Inc. grew its holdings in Applied Industrial Technologies by 3.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock valued at $255,000 after buying an additional 43 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Applied Industrial Technologies by 0.9% during the 2nd quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock worth $1,254,000 after buying an additional 55 shares during the last quarter. Miller Howard Investments Inc. NY raised its position in shares of Applied Industrial Technologies by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock valued at $446,000 after buying an additional 55 shares during the period. Nisa Investment Advisors LLC lifted its holdings in 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 valued at $3,374,000 after acquiring an additional 61 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its position in Applied Industrial Technologies by 0.7% in the second quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock worth $1,928,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America increased their target price on shares of Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Oppenheimer upped their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Loop Capital raised their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a report on Monday, October 28th. Mizuho began coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 target price on the stock. Finally, Raymond James raised their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $267.86.

Applied Industrial Technologies Trading Up 2.9 %

Shares of AIT stock opened at $277.11 on Friday. Applied Industrial Technologies, Inc. has a 1-year low of $155.47 and a 1-year high of $277.63. The firm’s 50-day simple moving average is $237.10 and its 200-day simple moving average is $210.98. The firm has a market cap of $10.65 billion, a P/E ratio of 28.28, a PEG ratio of 3.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results 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 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 business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $2.39 EPS. As a group, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This represents a 20.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.67% of the stock is owned by company insiders.

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.