Banque Cantonale Vaudoise Raises Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Banque Cantonale Vaudoise grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 11.4% during the third quarter, Holdings Channel reports. The fund owned 5,592 shares of the industrial products company’s stock after purchasing an additional 571 shares during the period. Banque Cantonale Vaudoise’s holdings in Applied Industrial Technologies were worth $1,248,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Applied Industrial Technologies during the first quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new position in Applied Industrial Technologies during the second quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at $32,000. V Square Quantitative Management LLC purchased a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth about $34,000. Finally, Quarry LP purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth about $39,000. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 0.1 %

Applied Industrial Technologies stock opened at $265.96 on Thursday. Applied Industrial Technologies, Inc. has a 12 month low of $155.47 and a 12 month high of $276.97. The stock has a fifty day simple moving average of $232.93 and a two-hundred day simple moving average of $209.58. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 3.66 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the company earned $2.39 EPS. Applied Industrial Technologies’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business 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 dividend of $0.37 per share. The ex-dividend date is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.56%. Applied Industrial Technologies’s payout ratio is 15.10%.

Insider Activity at Applied Industrial Technologies

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. KeyCorp boosted their price target 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. Robert W. Baird raised their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America boosted their target price on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Finally, Oppenheimer increased their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $267.86.

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.