Applied Industrial Technologies, Inc. (NYSE:AIT) Position Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 890,557 shares of the industrial products company’s stock after selling 24,527 shares during the quarter. Dimensional Fund Advisors LP owned 2.31% of Applied Industrial Technologies worth $172,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. QRG Capital Management Inc. raised its stake 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 purchasing an additional 55 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in Applied Industrial Technologies by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock worth $446,000 after buying an additional 55 shares during the last quarter. Measured Wealth Private Client Group LLC raised its position in Applied Industrial Technologies by 1.2% during the first quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock valued at $969,000 after acquiring an additional 59 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake 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, Private Advisor Group LLC grew its position in Applied Industrial Technologies by 2.6% in the first quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock worth $490,000 after acquiring an additional 62 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 sale, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction 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 in the company, valued at approximately $41,602,385.92. 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 ninety days. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AIT shares. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. 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 for the company. Northcoast Research began coverage on Applied Industrial Technologies in a report on Monday, July 1st. They set a “neutral” rating on the stock. Loop Capital lifted their price target on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.00.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $218.78 on Friday. The company’s fifty day moving average is $204.17 and its two-hundred day moving average is $195.38. Applied Industrial Technologies, Inc. has a 52-week low of $149.59 and a 52-week high of $224.36. 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 firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 2.00 and a beta of 1.03.

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 analysts’ consensus estimates of $2.52 by $0.12. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the business earned $2.35 earnings per share. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.86 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.37 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.68%. Applied Industrial Technologies’s payout ratio is 15.51%.

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.