Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Sheets Smith Wealth Management

Sheets Smith Wealth Management grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,067 shares of the industrial products company’s stock after acquiring an additional 155 shares during the period. Sheets Smith Wealth Management’s holdings in Applied Industrial Technologies were worth $1,213,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AIT. Barclays PLC raised its stake in shares of Applied Industrial Technologies by 156.6% during the 3rd quarter. Barclays PLC now owns 74,109 shares of the industrial products company’s stock worth $16,537,000 after buying an additional 45,224 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Applied Industrial Technologies in the third quarter valued at $32,233,000. Sanctuary Advisors LLC purchased a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth $1,279,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth $3,591,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Applied Industrial Technologies by 126.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company’s stock valued at $981,000 after purchasing an additional 2,451 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 4,000 shares of the 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 in the company, valued at $15,689,882.76. This represents a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the transaction, the director now directly owns 3,462 shares of the company’s stock, valued at approximately $952,326.96. This trade represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Trading Up 2.3 %

NYSE AIT opened at $263.37 on Wednesday. Applied Industrial Technologies, Inc. has a one year low of $173.73 and a one year high of $282.98. The company’s 50 day moving average price is $259.07 and its 200 day moving average price is $229.87. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.53 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 (NYSE:AIT) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the business earned $2.39 EPS. Applied Industrial Technologies’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.77 EPS for the current year.

Applied Industrial Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Loop Capital boosted their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Mizuho initiated coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective for the company. Raymond James raised their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.