Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC cut its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,619 shares of the industrial products company’s stock after selling 387 shares during the quarter. Oak Ridge Investments LLC’s holdings in Applied Industrial Technologies were worth $3,740,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AIT. GHP Investment Advisors Inc. grew its stake in Applied Industrial Technologies by 3.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 43 shares during the period. Versant Capital Management Inc grew its position in shares of Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 55 shares during the period. Dana Investment Advisors Inc. increased its stake in Applied Industrial Technologies by 0.7% in the second quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock valued at $1,928,000 after purchasing an additional 65 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Applied Industrial Technologies by 3.7% during the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock worth $429,000 after buying an additional 68 shares during the period. Finally, Ballentine Partners LLC boosted its stake in Applied Industrial Technologies by 7.1% in the 3rd quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company’s stock worth $248,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT opened at $257.21 on Friday. The business’s 50-day simple moving average is $259.43 and its 200 day simple moving average is $229.14. The company has a market cap of $9.89 billion, a P/E ratio of 26.25, a PEG ratio of 3.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. Applied Industrial Technologies, Inc. has a one year low of $168.64 and a one year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted $2.39 earnings per share. On average, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.58%. Applied Industrial Technologies’s payout ratio is currently 15.10%.

Insider Activity

In other news, Director Mary Dean Hall sold 2,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total value 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. The trade was a 38.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the transaction, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76. The trade was a 6.70 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AIT. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. Raymond James lifted their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Robert W. Baird upped their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Mizuho started coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 target price on the stock. Finally, Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $285.71.

Applied Industrial Technologies Company 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.