Campbell & CO Investment Adviser LLC Sells 2,637 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Campbell & CO Investment Adviser LLC cut its position in shares of Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 42.8% in the third quarter, Holdings Channel reports. The institutional investor owned 3,525 shares of the industrial products company’s stock after selling 2,637 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Applied Industrial Technologies were worth $545,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AIT. Raymond James & Associates lifted its holdings in shares of Applied Industrial Technologies by 13.1% during the 1st quarter. Raymond James & Associates now owns 14,939 shares of the industrial products company’s stock worth $1,534,000 after acquiring an additional 1,726 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Applied Industrial Technologies during the 1st quarter worth approximately $271,000. Citigroup Inc. lifted its holdings in shares of Applied Industrial Technologies by 3.4% during the 1st quarter. Citigroup Inc. now owns 38,917 shares of the industrial products company’s stock worth $3,995,000 after acquiring an additional 1,262 shares during the period. Bank of Montreal Can lifted its holdings in shares of Applied Industrial Technologies by 35.6% during the 1st quarter. Bank of Montreal Can now owns 16,704 shares of the industrial products company’s stock worth $1,702,000 after acquiring an additional 4,388 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Applied Industrial Technologies by 53.9% during the 1st quarter. MetLife Investment Management LLC now owns 20,446 shares of the industrial products company’s stock worth $2,099,000 after acquiring an additional 7,164 shares during the period. 92.49% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the completion of the transaction, the vice president now owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Warren E. Hoffner III sold 2,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the completion of the sale, the vice president now directly owns 57,155 shares in the company, valued at $10,421,642.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter C. Wallace sold 1,130 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $163.19, for a total transaction of $184,404.70. Following the completion of the sale, the director now owns 23,641 shares of the company’s stock, valued at $3,857,974.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,114 shares of company stock valued at $872,497. Insiders own 2.00% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $187.22 on Tuesday. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 19.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.74 and a quick ratio of 2.59. The firm has a 50 day simple moving average of $173.23 and a 200 day simple moving average of $161.70. Applied Industrial Technologies, Inc. has a one year low of $122.24 and a one year high of $189.48.

Applied Industrial Technologies (NYSE:AITGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.11 by $0.13. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 EPS. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.59 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, February 14th. This represents a $1.48 annualized dividend and a dividend yield of 0.79%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.35. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 14.69%.

Analyst Ratings Changes

Separately, KeyCorp upped their price target on shares of Applied Industrial Technologies from $182.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 26th.

Check Out Our Latest Report on Applied Industrial Technologies

About Applied Industrial Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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