TD Private Client Wealth LLC Acquires 203 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

TD Private Client Wealth LLC grew its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 24.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,017 shares of the industrial products company’s stock after acquiring an additional 203 shares during the quarter. TD Private Client Wealth LLC’s holdings in Applied Industrial Technologies were worth $227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp raised its stake in Applied Industrial Technologies by 2.4% in the third quarter. State Street Corp now owns 1,441,051 shares of the industrial products company’s stock valued at $321,542,000 after purchasing an additional 34,113 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Applied Industrial Technologies by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company’s stock worth $232,181,000 after buying an additional 40,689 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Applied Industrial Technologies by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 569,317 shares of the industrial products company’s stock valued at $127,032,000 after buying an additional 3,887 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth $84,139,000. Finally, ArrowMark Colorado Holdings LLC grew its position in Applied Industrial Technologies by 9.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 277,335 shares of the industrial products company’s stock worth $61,882,000 after acquiring an additional 23,710 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Transactions at Applied Industrial Technologies

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

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $262.07 on Friday. 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 one year low of $163.50 and a one year high of $282.98. The business’s 50 day simple moving average is $253.09 and its two-hundred day simple moving average is $219.12. The stock has a market capitalization of $10.08 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 3.71 and a beta of 1.05.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.25 by $0.11. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.39 earnings per share. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. StockNews.com upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Oppenheimer boosted their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Loop Capital increased their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, KeyCorp lifted their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.