Oliver Luxxe Assets LLC Takes $1.32 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Oliver Luxxe Assets LLC bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,523 shares of the industrial products company’s stock, valued at approximately $1,323,000.

Several other hedge funds have also recently modified their holdings of AIT. V Square Quantitative Management LLC purchased a new position in shares of Applied Industrial Technologies in the third quarter worth about $34,000. First Horizon Advisors Inc. raised its holdings 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 acquiring an additional 88 shares during the last quarter. UMB Bank n.a. lifted its stake 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 worth $42,000 after purchasing an additional 77 shares in the last quarter. Quarry LP acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $39,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $84,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 0.1 %

Shares of AIT stock opened at $261.53 on Friday. Applied Industrial Technologies, Inc. has a 1-year low of $173.73 and a 1-year high of $282.98. The firm has a market cap of $10.05 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 3.61 and a beta of 1.08. The company has a 50-day moving average of $258.66 and a two-hundred day moving average of $230.61. 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 (NYSE:AIT) last issued its quarterly earnings data 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. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the business posted $2.39 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts predict that Applied Industrial Technologies, Inc. will post 9.77 EPS for the current year.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the business’s 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 directly owns 55,709 shares in the company, valued at $15,689,882.76. This represents a 6.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the director now directly owns 3,462 shares in the company, valued at $952,326.96. This represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AIT. Oppenheimer increased their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Mizuho started coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target on the stock. Loop Capital upped their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $285.71.

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.