Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Thematics Asset Management

Thematics Asset Management grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.8% during the 3rd quarter, Holdings Channel reports. The firm owned 54,835 shares of the industrial products company’s stock after purchasing an additional 3,500 shares during the period. Thematics Asset Management’s holdings in Applied Industrial Technologies were worth $12,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Trust Walden Corp grew its holdings in Applied Industrial Technologies by 1.2% during the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock worth $122,398,000 after acquiring an additional 7,720 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Applied Industrial Technologies by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 569,317 shares of the industrial products company’s stock worth $127,032,000 after purchasing an additional 3,887 shares during the last quarter. Dundas Partners LLP acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $46,805,000. Handelsbanken Fonder AB raised its holdings in shares of Applied Industrial Technologies by 28.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company’s stock worth $49,495,000 after purchasing an additional 49,500 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Applied Industrial Technologies by 18.2% during the second quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company’s stock valued at $39,659,000 after purchasing an additional 31,514 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AIT shares. Loop Capital lifted their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. KeyCorp lifted their target price on Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Robert W. Baird upped their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Mizuho assumed coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price target on the stock. Finally, StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.57.

Insider Activity at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Stock Performance

NYSE AIT remained flat at $278.55 during trading on Tuesday. The company’s stock had a trading volume of 41,169 shares, compared to its average volume of 284,634. The company has a market capitalization of $10.71 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 3.80 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 12-month low of $155.47 and a 12-month high of $282.32. 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 stock has a fifty day moving average price of $238.50 and a two-hundred day moving average price of $211.80.

Applied Industrial Technologies (NYSE:AIT) last announced 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 net margin of 8.57% and a return on equity of 22.68%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $2.39 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. Equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.53%. Applied Industrial Technologies’s dividend payout ratio is 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.