Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Thematics Asset Management

Thematics Asset Management raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,835 shares of the industrial products company’s stock after acquiring an additional 3,500 shares during the quarter. Thematics Asset Management owned approximately 0.14% of Applied Industrial Technologies worth $12,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AIT. GHP Investment Advisors Inc. boosted its stake in 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 buying an additional 43 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Applied Industrial Technologies by 0.9% in the second quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock worth $1,254,000 after acquiring an additional 55 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in Applied Industrial Technologies by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 55 shares during the period. Nisa Investment Advisors LLC grew its holdings in Applied Industrial Technologies by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock valued at $3,374,000 after purchasing an additional 61 shares during the period. Finally, Dana Investment Advisors Inc. increased its position in Applied Industrial Technologies by 0.7% during the second quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock worth $1,928,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Loop Capital boosted 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. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Mizuho initiated coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price target for the company. Robert W. Baird upped their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Raymond James lifted their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $278.57.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock remained flat at $278.55 during trading on Tuesday. 41,169 shares of the stock were exchanged, compared to its average volume of 284,634. The firm has a market capitalization of $10.71 billion, a P/E ratio of 28.43, a price-to-earnings-growth ratio of 3.80 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1-year low of $155.47 and a 1-year high of $282.32. The firm’s fifty day simple moving average is $238.50 and its two-hundred day simple moving average is $211.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78.

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 the consensus estimate of $2.25 by $0.11. The firm had revenue of $1.10 billion during 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%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.39 earnings per share. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio is presently 15.10%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. The trade was a 20.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.67% of the stock is currently owned by 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.