Values First Advisors Inc. Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Values First Advisors Inc. bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the third quarter, according to its most recent filing with the SEC. The firm bought 510 shares of the industrial products company’s stock, valued at approximately $114,000.

Several other hedge funds have also bought and sold shares of AIT. Quadrature Capital Ltd bought a new position in shares of Applied Industrial Technologies in the first quarter valued at $593,000. American International Group Inc. raised its holdings in shares of Applied Industrial Technologies by 232.6% in the 1st quarter. American International Group Inc. now owns 69,901 shares of the industrial products company’s stock worth $13,809,000 after acquiring an additional 48,883 shares during the last quarter. State of Michigan Retirement System bought a new position in Applied Industrial Technologies in the 1st quarter valued at about $1,877,000. Sanctuary Advisors LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at about $1,279,000. Finally, Van ECK Associates Corp increased its holdings in Applied Industrial Technologies by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 15,263 shares of the industrial products company’s stock worth $3,015,000 after purchasing an additional 4,082 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AIT shares. Robert W. Baird raised their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. KeyCorp lifted their price objective on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Mizuho initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday. They issued an “outperform” rating and a $285.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.71.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction dated 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 approximately $3,922,876.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $4,037,221.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,927 shares of company stock worth $2,439,116. 2.20% of the stock is owned by company insiders.

Applied Industrial Technologies Price Performance

AIT opened at $231.32 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $149.59 and a fifty-two week high of $240.45. The firm has a 50-day moving average of $214.79 and a 200 day moving average of $201.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. The firm has a market cap of $8.93 billion, a P/E ratio of 24.25, a PEG ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $2.39 EPS. The company’s revenue was up .3% compared to the same quarter last year. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.64%. Applied Industrial Technologies’s dividend payout ratio is presently 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.