Crossmark Global Holdings Inc. Has $700,000 Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Crossmark Global Holdings Inc. grew its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 30.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,137 shares of the industrial products company’s stock after purchasing an additional 728 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Applied Industrial Technologies were worth $700,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AIT. EntryPoint Capital LLC acquired a new position in Applied Industrial Technologies during the first quarter worth $25,000. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new position in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $34,000. Opal Wealth Advisors LLC purchased a new position in Applied Industrial Technologies in the second quarter worth $32,000. Finally, UMB Bank n.a. boosted its stake in Applied Industrial Technologies by 68.1% in the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 77 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. This represents a 20.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock valued at $2,439,116 over the last ninety days. 1.67% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AIT shares. Mizuho initiated coverage on shares of Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price on the stock. Loop Capital raised their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a report on Monday, October 28th. Robert W. Baird boosted their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Raymond James raised 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. Finally, StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $267.86.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $266.73 on Friday. The company has a market capitalization of $10.25 billion, a P/E ratio of 27.22, a PEG ratio of 3.73 and a beta of 1.03. Applied Industrial Technologies, Inc. has a fifty-two week low of $155.47 and a fifty-two week high of $276.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The stock has a 50 day moving average price of $228.69 and a two-hundred day moving average price of $207.49.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates 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 was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.39 EPS. Analysts expect that Applied Industrial Technologies, Inc. will post 9.74 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.55%. Applied Industrial Technologies’s dividend payout ratio is currently 15.10%.

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.