7,069 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,069 shares of the industrial products company’s stock, valued at approximately $1,279,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Applied Industrial Technologies by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock valued at $875,912,000 after buying an additional 14,858 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Applied Industrial Technologies by 1.2% in the 2nd quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock valued at $122,398,000 after purchasing an additional 7,720 shares during the period. Dundas Partners LLP bought a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $46,805,000. Victory Capital Management Inc. grew its stake in Applied Industrial Technologies by 18.2% in the second quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company’s stock worth $39,659,000 after purchasing an additional 31,514 shares during the period. Finally, Nordea Investment Management AB bought a new position in Applied Industrial Technologies in the first quarter worth $39,093,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Trading Down 0.8 %

Shares of NYSE:AIT opened at $220.18 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. Applied Industrial Technologies, Inc. has a 1 year low of $149.59 and a 1 year high of $226.31. The company has a market cap of $8.50 billion, a P/E ratio of 23.08, a PEG ratio of 2.31 and a beta of 1.03. The stock’s fifty day moving average price is $207.61 and its 200-day moving average price is $198.56.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results 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. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $2.35 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.71 earnings per share for the current year.

Insider Activity

In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the company’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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total transaction of $703,561.32. Following the transaction, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock valued at $2,439,116 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They issued a “neutral” rating on the stock. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. KeyCorp upped their price target on Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Raymond James assumed 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. Finally, Robert W. Baird increased their target price 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $229.50.

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.