Romano Brothers AND Company Cuts Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Romano Brothers AND Company decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 26,987 shares of the industrial products company’s stock after selling 375 shares during the quarter. Romano Brothers AND Company’s holdings in Applied Industrial Technologies were worth $6,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Applied Industrial Technologies during the 3rd quarter worth approximately $34,000. First Horizon Advisors Inc. boosted its stake in shares of Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after buying an additional 88 shares in the last quarter. Quarry LP purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at approximately $39,000. UMB Bank n.a. grew its holdings in Applied Industrial Technologies by 68.1% during the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 77 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Applied Industrial Technologies by 42.6% in the second quarter. EverSource Wealth Advisors LLC now owns 435 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 130 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares in the company, valued at $15,689,882.76. The trade was a 6.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction dated Wednesday, November 27th. The stock was 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. 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.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Raymond James upped 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. Loop Capital increased their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a report on Monday, October 28th. KeyCorp boosted their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. 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 note on Wednesday, October 16th. Finally, Oppenheimer boosted their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $285.71.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $257.21 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The business’s fifty day moving average price is $259.43 and its two-hundred day moving average price is $229.14. The stock has a market cap of $9.89 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.36 and a beta of 1.08. Applied Industrial Technologies, Inc. has a one year low of $168.64 and a one year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned $2.39 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio is presently 15.10%.

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.