Natixis Investment Managers International Sells 104 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Natixis Investment Managers International reduced its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 17.2% during the first quarter, Holdings Channel reports. The institutional investor owned 499 shares of the industrial products company’s stock after selling 104 shares during the quarter. Natixis Investment Managers International’s holdings in Applied Industrial Technologies were worth $99,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIT. ICA Group Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter worth about $26,000. ZRC Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies in the first quarter worth about $42,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Applied Industrial Technologies in the fourth quarter worth about $54,000. Covestor Ltd grew its stake in shares of Applied Industrial Technologies by 300.0% in the first quarter. Covestor Ltd now owns 292 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 219 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter worth about $86,000. 93.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 650 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $196.71, for a total transaction of $127,861.50. Following the completion of the transaction, the vice president now directly owns 22,960 shares in the company, valued at $4,516,461.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on AIT shares. Northcoast Research started coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating on the stock. KeyCorp raised their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Oppenheimer started coverage on Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Applied Industrial Technologies Stock Up 2.4 %

Applied Industrial Technologies stock traded up $4.97 during trading hours on Thursday, hitting $209.66. 253,657 shares of the stock traded hands, compared to its average volume of 307,324. The firm’s 50-day moving average price is $193.57 and its two-hundred day moving average price is $188.66. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. The company has a market cap of $8.09 billion, a PE ratio of 22.20, a PEG ratio of 2.06 and a beta of 1.06. Applied Industrial Technologies, Inc. has a one year low of $138.38 and a one year high of $212.19.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.08. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.38 EPS. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.48 annualized dividend and a yield of 0.71%. Applied Industrial Technologies’s payout ratio is 15.51%.

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.