Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 106.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171 shares of the industrial products company’s stock after purchasing an additional 88 shares during the period. First Horizon Advisors Inc.’s holdings in Applied Industrial Technologies were worth $38,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in shares of Applied Industrial Technologies during the 1st quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in Applied Industrial Technologies during the second quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter worth approximately $32,000. V Square Quantitative Management LLC acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at $34,000. Finally, Quarry LP purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $278.57 on Tuesday. The firm has a fifty day moving average of $237.10 and a 200-day moving average of $211.23. Applied Industrial Technologies, Inc. has a 52-week low of $155.47 and a 52-week high of $282.32. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $10.71 billion, a P/E ratio of 28.43, a PEG ratio of 3.80 and a beta of 1.03.

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 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 company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $2.39 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. As a group, analysts predict that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid 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 0.53%. Applied Industrial Technologies’s dividend payout ratio is currently 15.10%.

Analyst Upgrades and Downgrades

AIT has been the subject of a number of recent analyst reports. Oppenheimer lifted their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. 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 research note on Monday, October 28th. Raymond James raised their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Robert W. Baird upped their price target on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Mizuho initiated coverage on shares of Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.86.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the transaction, the vice president now owns 19,315 shares in the company, valued at $3,922,876.50. The trade was a 20.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.