Harbor Capital Advisors Inc. Buys 256 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Harbor Capital Advisors Inc. grew its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,422 shares of the industrial products company’s stock after purchasing an additional 256 shares during the period. Harbor Capital Advisors Inc.’s holdings in Applied Industrial Technologies were worth $2,496,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GHP Investment Advisors Inc. increased its holdings in shares of Applied Industrial Technologies by 3.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 43 shares in the last quarter. Versant Capital Management Inc increased its holdings in Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock worth $91,000 after buying an additional 55 shares in the last quarter. Dana Investment Advisors Inc. raised its position in Applied Industrial Technologies by 0.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock worth $1,928,000 after buying an additional 65 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Applied Industrial Technologies by 3.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock valued at $429,000 after acquiring an additional 68 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in shares of Applied Industrial Technologies by 7.1% during the 3rd quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 74 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $244.69 on Friday. The stock has a market cap of $9.41 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 3.71 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 1 year low of $165.39 and a 1 year high of $282.98. The firm has a fifty day moving average price of $259.50 and a 200-day moving average price of $226.99. 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 issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted $2.39 EPS. Applied Industrial Technologies’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.60%. Applied Industrial Technologies’s dividend payout ratio is presently 15.10%.

Analyst Ratings Changes

AIT has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Loop Capital raised their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. KeyCorp raised their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Mizuho assumed coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.71.

Insiders Place Their Bets

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

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.