2,814 Shares of Applied Industrial Technologies, Inc. $AIT Bought by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,814 shares of the industrial products company’s stock, valued at approximately $935,000.

Other hedge funds have also added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in shares of Applied Industrial Technologies by 89.0% in the first quarter. Quantinno Capital Management LP now owns 10,182 shares of the industrial products company’s stock valued at $2,702,000 after purchasing an additional 4,794 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Applied Industrial Technologies by 34.1% during the second quarter. Hsbc Holdings PLC now owns 27,891 shares of the industrial products company’s stock valued at $9,410,000 after buying an additional 7,092 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Applied Industrial Technologies during the second quarter worth $8,916,000. Van Hulzen Asset Management LLC bought a new stake in Applied Industrial Technologies during the second quarter worth $2,341,000. Finally, WINTON GROUP Ltd bought a new stake in Applied Industrial Technologies during the second quarter worth $5,286,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AIT shares. Weiss Ratings lowered Applied Industrial Technologies from a “buy (b)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Bank of America lifted their price objective on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Applied Industrial Technologies in a report on Wednesday, October 28th. KeyCorp reduced their target price on shares of Applied Industrial Technologies from $420.00 to $360.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Finally, Mizuho lowered their target price on shares of Applied Industrial Technologies from $400.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $380.00.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $298.80 on Wednesday. Applied Industrial Technologies, Inc. has a twelve month low of $238.72 and a twelve month high of $374.80. The stock’s 50 day moving average price is $321.75 and its 200-day moving average price is $309.80. The company has a market capitalization of $10.91 billion, a PE ratio of 26.31, a PEG ratio of 2.37 and a beta of 0.87. The company has a quick ratio of 1.90, a current ratio of 2.89 and a debt-to-equity ratio of 0.15.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, October 27th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.08. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.38%. Applied Industrial Technologies’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 earnings per share. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 12.06 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.04 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is currently 18.05%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CFO David Wells sold 1,812 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter Wallace sold 1,904 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the completion of the transaction, the director owned 22,859 shares of the company’s stock, valued at $7,782,346.55. This trade represents a 7.69% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by insiders.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc. distributes industrial products and provides engineering and related services to manufacturers and other industrial customers. Its offerings include bearings, power-transmission components, fluid-power products, automation equipment and general maintenance, repair and operations supplies. The company also provides technical support, engineering, systems integration, repair and inventory-management services. These capabilities help customers maintain equipment, improve production processes and manage the supply of industrial components.