Oliver Luxxe Assets LLC Buys New Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Oliver Luxxe Assets LLC purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 5,523 shares of the industrial products company’s stock, valued at approximately $1,323,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. raised its stake in Applied Industrial Technologies by 3.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 43 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Applied Industrial Technologies by 16.8% during the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 55 shares in the last quarter. Dana Investment Advisors Inc. lifted its holdings in shares of 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 valued at $1,928,000 after purchasing an additional 65 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Applied Industrial Technologies by 3.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 68 shares during the period. Finally, Ballentine Partners LLC grew its stake in 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 worth $248,000 after buying an additional 74 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AIT shares. Robert W. Baird boosted their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Oppenheimer increased 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 note on Thursday, November 14th. Mizuho started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price objective on the stock. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Finally, StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.71.

Applied Industrial Technologies Stock Down 0.1 %

Shares of NYSE:AIT opened at $261.53 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $173.73 and a fifty-two week high of $282.98. 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 firm’s 50-day simple moving average is $258.66 and its 200-day simple moving average is $230.61. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 3.61 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm earned $2.39 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.77 earnings per share for the current year.

Insiders Place Their Bets

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

Applied Industrial Technologies Company 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.