UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 8,357 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,721 shares of the industrial products company’s stock after selling 8,357 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.20% of Applied Industrial Technologies worth $16,896,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AIT. Westfield Capital Management Co. LP purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $32,233,000. Sanctuary Advisors LLC purchased a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at about $1,279,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $3,591,000. Janney Montgomery Scott LLC raised its position in shares of Applied Industrial Technologies by 126.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company’s stock valued at $981,000 after buying an additional 2,451 shares in the last quarter. Finally, Dana Investment Advisors Inc. raised its position in shares of Applied Industrial Technologies by 0.7% during 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 buying an additional 65 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT opened at $273.82 on Friday. The firm has a market cap of $10.53 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.80 and a beta of 1.05. The firm’s 50 day simple moving average is $248.44 and its 200-day simple moving average is $216.49. Applied Industrial Technologies, Inc. has a one year low of $162.19 and a one year high of $282.98. 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 issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion for 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 company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $2.39 earnings per share. As a group, equities analysts predict that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

Insider Transactions at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on 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 trade represents a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction that occurred on 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 owns 3,462 shares in the company, valued at approximately $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AIT shares. Loop Capital upped their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Raymond James increased their price objective on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.71.

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.