Applied Industrial Technologies, Inc. (NYSE:AIT) Holdings Cut by CX Institutional

CX Institutional lowered its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.7% during the third quarter, HoldingsChannel.com reports. The fund owned 6,777 shares of the industrial products company’s stock after selling 488 shares during the period. CX Institutional’s holdings in Applied Industrial Technologies were worth $1,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of AIT. Dundas Partners LLP bought a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $46,805,000. Nordea Investment Management AB bought a new stake in shares of Applied Industrial Technologies during the first quarter valued at approximately $39,093,000. Retirement Systems of Alabama bought a new stake in shares of Applied Industrial Technologies during the first quarter valued at approximately $19,263,000. F M Investments LLC bought a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $15,690,000. Finally, TimesSquare Capital Management LLC increased its stake in shares of Applied Industrial Technologies by 91.5% during the first quarter. TimesSquare Capital Management LLC now owns 114,977 shares of the industrial products company’s stock valued at $22,714,000 after acquiring an additional 54,927 shares during the period. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 0.4 %

Applied Industrial Technologies stock opened at $226.98 on Wednesday. The company has a 50 day moving average price of $209.47 and a 200 day moving average price of $199.22. Applied Industrial Technologies, Inc. has a 52 week low of $149.59 and a 52 week high of $230.48. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $2.35 EPS. Research analysts forecast that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current year.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,927 shares of company stock valued at $2,439,116 in the last quarter. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AIT shares. KeyCorp raised their price objective on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Northcoast Research started coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating on the stock. Bank of America started coverage on shares of Applied Industrial Technologies in a research note on Monday, October 7th. They set a “neutral” rating and a $232.00 price objective on the stock. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Raymond James initiated coverage on shares of Applied Industrial Technologies in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.50.

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.