Bank of Montreal Can Reduces Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Bank of Montreal Can decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,158 shares of the industrial products company’s stock after selling 154 shares during the period. Bank of Montreal Can’s holdings in Applied Industrial Technologies were worth $1,002,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. EntryPoint Capital LLC bought a new position in shares of Applied Industrial Technologies in the first quarter worth about $25,000. Headlands Technologies LLC bought a new position in Applied Industrial Technologies in the 2nd quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Applied Industrial Technologies during the 2nd quarter valued at approximately $32,000. ZRC Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies during the first quarter valued at approximately $42,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Applied Industrial Technologies by 68.5% in the first quarter. EverSource Wealth Advisors LLC now owns 305 shares of the industrial products company’s stock worth $56,000 after buying an additional 124 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 stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now directly owns 19,315 shares in the company, valued at approximately $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the transaction, the vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock valued at $2,439,116 over the last 90 days. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AIT shares. KeyCorp raised their target price on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Raymond James started coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 target price on the stock. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Robert W. Baird lifted their price objective on Applied Industrial Technologies from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Northcoast Research started coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Applied Industrial Technologies Trading Up 0.4 %

Shares of NYSE AIT opened at $221.86 on Monday. Applied Industrial Technologies, Inc. has a 1-year low of $149.59 and a 1-year high of $226.31. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. The business’s 50 day moving average is $207.09 and its two-hundred day moving average is $197.94. The stock has a market capitalization of $8.56 billion, a P/E ratio of 23.26, a PEG ratio of 2.31 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 EPS 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 analyst estimates of $1.19 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. Applied Industrial Technologies’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that Applied Industrial Technologies, Inc. will post 9.71 EPS for the current year.

About Applied Industrial Technologies

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.