QRG Capital Management Inc. Purchases 715 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

QRG Capital Management Inc. grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 11.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,177 shares of the industrial products company’s stock after acquiring an additional 715 shares during the period. QRG Capital Management Inc.’s holdings in Applied Industrial Technologies were worth $1,601,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Quadrature Capital Ltd bought a new position in shares of Applied Industrial Technologies in the 1st quarter worth about $593,000. American International Group Inc. boosted its stake in Applied Industrial Technologies by 232.6% during the 1st quarter. American International Group Inc. now owns 69,901 shares of the industrial products company’s stock valued at $13,809,000 after purchasing an additional 48,883 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $1,279,000. Cumberland Partners Ltd bought a new position in shares of Applied Industrial Technologies during the 1st quarter worth approximately $790,000. Finally, Dana Investment Advisors Inc. raised its holdings in shares of Applied Industrial Technologies by 0.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock worth $1,928,000 after purchasing an additional 65 shares during the period. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Price Performance

AIT stock opened at $265.01 on Friday. The company has a market cap of $10.19 billion, a P/E ratio of 27.04, a PEG ratio of 3.20 and a beta of 1.03. 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 1 year low of $155.47 and a 1 year high of $269.05. The firm has a 50-day moving average of $221.55 and a 200 day moving average of $204.40.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data 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 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 analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $2.39 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio is currently 15.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AIT shares. Raymond James lifted their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Loop Capital upped their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. KeyCorp upped their target price on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Oppenheimer upped their price target on shares of Applied Industrial Technologies from $235.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird upped their price target on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.43.

Insider Buying and Selling

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the 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 directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the 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 directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction 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 owns 19,315 shares in the company, valued at $4,037,221.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,927 shares of company stock worth $2,439,116. 1.67% of the stock is owned by insiders.

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.