Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by FORA Capital LLC

FORA Capital LLC reduced its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,349 shares of the industrial products company’s stock after selling 44 shares during the quarter. FORA Capital LLC’s holdings in Applied Industrial Technologies were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Applied Industrial Technologies by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,607 shares of the industrial products company’s stock valued at $4,467,000 after purchasing an additional 1,461 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Applied Industrial Technologies by 7.5% in the first quarter. Tidal Investments LLC now owns 2,114 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 147 shares in the last quarter. Comerica Bank lifted its holdings in shares of Applied Industrial Technologies by 9.2% in the first quarter. Comerica Bank now owns 20,973 shares of the industrial products company’s stock valued at $4,143,000 after purchasing an additional 1,765 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Applied Industrial Technologies in the first quarter valued at about $231,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Applied Industrial Technologies by 68.5% in the first quarter. EverSource Wealth Advisors LLC now owns 305 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 124 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AIT. Raymond James upped their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. KeyCorp upped their price target on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Loop Capital upped their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Bank of America raised shares of 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 note on Tuesday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.57.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $275.58 on Friday. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The company has a market cap of $10.60 billion, a P/E ratio of 28.12, a P/E/G ratio of 3.76 and a beta of 1.03. Applied Industrial Technologies, Inc. has a fifty-two week low of $156.50 and a fifty-two week high of $282.98. The firm’s 50 day moving average is $243.16 and its two-hundred day moving average is $213.80.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate 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 was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $2.39 earnings per share. Analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, November 15th. Applied Industrial Technologies’s payout ratio is currently 15.10%.

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.