Curi RMB Capital LLC Purchases 2,171 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Curi RMB Capital LLC raised its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,392 shares of the industrial products company’s stock after buying an additional 2,171 shares during the quarter. Curi RMB Capital LLC owned about 0.21% of Applied Industrial Technologies worth $18,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIT. KBC Group NV increased its stake in shares of Applied Industrial Technologies by 12.6% during the third quarter. KBC Group NV now owns 1,096 shares of the industrial products company’s stock valued at $245,000 after purchasing an additional 123 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Applied Industrial Technologies by 85.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,318 shares of the industrial products company’s stock worth $517,000 after buying an additional 1,069 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Applied Industrial Technologies during the third quarter valued at approximately $468,000. Chartwell Investment Partners LLC raised its stake in shares of Applied Industrial Technologies by 0.8% in the third quarter. Chartwell Investment Partners LLC now owns 10,602 shares of the industrial products company’s stock worth $2,365,000 after purchasing an additional 85 shares during the last quarter. Finally, Meritage Portfolio Management boosted its position in shares of Applied Industrial Technologies by 9.3% during the third quarter. Meritage Portfolio Management now owns 3,750 shares of the industrial products company’s stock valued at $837,000 after buying an additional 318 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AIT. Raymond James increased their price objective on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. KeyCorp raised their price target on Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Loop Capital upped their price objective on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Bank of America raised their target price on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.86.

Applied Industrial Technologies Trading Down 0.9 %

Shares of AIT opened at $271.51 on Thursday. Applied Industrial Technologies, Inc. has a twelve month low of $155.47 and a twelve month high of $276.97. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $225.72 and its 200-day simple moving average is $206.59. The company has a market cap of $10.44 billion, a P/E ratio of 27.71, a P/E/G ratio of 3.76 and a beta of 1.03.

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 analysts’ consensus estimates 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company posted $2.39 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

Insiders Place Their Bets

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the transaction, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total transaction of $703,561.32. Following the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock worth $2,439,116 in the last three months. Corporate insiders own 1.67% of the company’s stock.

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.