Linden Thomas Advisory Services LLC Buys 632 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Linden Thomas Advisory Services LLC increased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,686 shares of the industrial products company’s stock after acquiring an additional 632 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Applied Industrial Technologies were worth $1,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies in the 3rd quarter valued at $34,000. First Horizon Advisors Inc. grew its position in Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares during the period. Quarry LP acquired a new stake in Applied Industrial Technologies in the 2nd quarter valued at $39,000. UMB Bank n.a. grew its position in Applied Industrial Technologies by 68.1% in the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 77 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Applied Industrial Technologies by 42.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 435 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 130 shares during the period. Institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

AIT has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Loop Capital boosted their price objective on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, October 28th. KeyCorp upped their price target on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Mizuho initiated coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target on the stock. Finally, Oppenheimer upped their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $285.71.

Insiders Place Their Bets

In other news, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the sale, the director now owns 3,462 shares of the company’s stock, valued at approximately $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the sale, the vice president now directly owns 55,709 shares of the company’s stock, valued at approximately $15,689,882.76. This trade represents a 6.70 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is owned by insiders.

Applied Industrial Technologies Stock Down 0.4 %

Shares of AIT opened at $260.36 on Friday. The firm has a market cap of $10.01 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.59 and a beta of 1.08. The stock has a 50 day simple moving average of $258.34 and a two-hundred day simple moving average of $231.65. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. Applied Industrial Technologies, Inc. has a 1 year low of $173.73 and a 1 year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. Applied Industrial Technologies’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.39 earnings per share. On average, analysts forecast that Applied Industrial Technologies, Inc. will post 9.77 earnings per share for the current fiscal year.

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.