Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 202,050 shares of the industrial products company’s stock after purchasing an additional 9,667 shares during the quarter. Nordea Investment Management AB’s holdings in Applied Industrial Technologies were worth $48,540,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AIT. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies during the third quarter worth $34,000. First Horizon Advisors Inc. grew its position in shares of Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares during the period. Quarry LP acquired a new position in Applied Industrial Technologies in the second quarter valued at $39,000. Finally, UMB Bank n.a. lifted its position in Applied Industrial Technologies by 68.1% during the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

AIT has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, December 19th. Oppenheimer upped their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Robert W. Baird upped their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, KeyCorp boosted their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.71.

Applied Industrial Technologies Stock Down 0.5 %

Shares of Applied Industrial Technologies stock opened at $248.39 on Wednesday. The company has a fifty day moving average price of $258.39 and a 200 day moving average price of $225.64. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a twelve month low of $163.50 and a twelve month high of $282.98. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.71 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.39 earnings per share. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.60%. Applied Industrial Technologies’s payout ratio is currently 15.10%.

Insider Activity

In other news, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the transaction, the vice president now directly owns 55,709 shares in the company, valued at approximately $15,689,882.76. This represents a 6.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the sale, the director now owns 3,462 shares of the company’s stock, valued at approximately $952,326.96. This trade represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.67% of the company’s stock.

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.