1,250 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,250 shares of the industrial products company’s stock, valued at approximately $279,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter worth $25,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the second quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $34,000. Finally, First Horizon Advisors Inc. increased its stake in shares of Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 88 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Kurt W. Loring sold 4,858 shares of the firm’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 value of $986,659.80. Following the transaction, the vice president now owns 19,315 shares in the company, valued at approximately $3,922,876.50. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Trading Down 2.4 %

Shares of AIT stock opened at $273.74 on Thursday. Applied Industrial Technologies, Inc. has a 1-year low of $155.47 and a 1-year high of $282.98. The firm’s 50-day simple moving average is $241.03 and its 200-day simple moving average is $212.82. The firm has a market cap of $10.53 billion, a P/E ratio of 27.93, a PEG ratio of 3.82 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 announced its quarterly 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. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. Applied Industrial Technologies’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business earned $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 company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.37 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.54%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.10%.

Analyst Ratings Changes

AIT has been the topic of a number of recent research reports. Oppenheimer upped their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Mizuho initiated coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price objective on the stock. KeyCorp lifted their price objective on Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.57.

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.