Crossmark Global Holdings Inc. Trims Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Crossmark Global Holdings Inc. decreased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,824 shares of the industrial products company’s stock after selling 313 shares during the period. Crossmark Global Holdings Inc.’s holdings in Applied Industrial Technologies were worth $676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its stake in Applied Industrial Technologies by 2.4% in the 3rd quarter. State Street Corp now owns 1,441,051 shares of the industrial products company’s stock worth $321,542,000 after buying an additional 34,113 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Applied Industrial Technologies by 4.1% in the third quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company’s stock worth $232,181,000 after acquiring an additional 40,689 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Applied Industrial Technologies by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,317 shares of the industrial products company’s stock valued at $127,032,000 after purchasing an additional 3,887 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Applied Industrial Technologies during the third quarter worth approximately $84,139,000. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of Applied Industrial Technologies by 9.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,335 shares of the industrial products company’s stock valued at $61,882,000 after purchasing an additional 23,710 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 0.4 %

NYSE AIT opened at $260.36 on Friday. The stock has a market cap of $10.01 billion, a P/E ratio of 26.57, a PEG ratio of 3.59 and a beta of 1.08. The company’s fifty day simple moving average is $258.34 and its 200-day simple moving average is $231.65. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a 52 week low of $173.73 and a 52 week high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating 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 company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the company posted $2.39 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.77 EPS for the current fiscal year.

Insider Activity at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares of the company’s stock, valued at approximately $15,689,882.76. The trade was a 6.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction dated Wednesday, November 27th. The stock was 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 in the company, valued at $952,326.96. The trade was 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 company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird upped 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 upped their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Loop Capital boosted their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, October 28th. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, KeyCorp raised their target price on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.71.

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.