Dimensional Fund Advisors LP Sells 12,508 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Dimensional Fund Advisors LP lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 907,792 shares of the industrial products company’s stock after selling 12,508 shares during the period. Dimensional Fund Advisors LP owned 2.35% of Applied Industrial Technologies worth $131,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Ellevest Inc. grew its position in Applied Industrial Technologies by 62.0% during the second quarter. Ellevest Inc. now owns 1,494 shares of the industrial products company’s stock worth $216,000 after buying an additional 572 shares in the last quarter. Pearl River Capital LLC acquired a new stake in Applied Industrial Technologies during the first quarter worth approximately $350,000. Level Four Advisory Services LLC boosted its holdings in shares of Applied Industrial Technologies by 14.9% in the 2nd quarter. Level Four Advisory Services LLC now owns 4,779 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 618 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of Applied Industrial Technologies by 28.4% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 2,014 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 445 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Applied Industrial Technologies in the 1st quarter valued at $210,000. Institutional investors own 92.49% of the company’s stock.

Applied Industrial Technologies Stock Down 0.3 %

Shares of NYSE:AIT opened at $162.68 on Tuesday. The firm has a market cap of $6.31 billion, a P/E ratio of 17.57 and a beta of 1.14. The company has a quick ratio of 2.44, a current ratio of 3.52 and a debt-to-equity ratio of 0.39. Applied Industrial Technologies, Inc. has a 12-month low of $116.94 and a 12-month high of $167.94. The business has a fifty day simple moving average of $157.20 and a 200 day simple moving average of $146.94.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, October 26th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.32. Applied Industrial Technologies had a return on equity of 25.39% and a net margin of 8.18%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Analysts predict that Applied Industrial Technologies, Inc. will post 9.43 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, November 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird raised their target price on Applied Industrial Technologies from $161.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Loop Capital raised their target price on Applied Industrial Technologies from $170.00 to $174.00 and gave the company a “buy” rating in a report on Monday, August 14th. KeyCorp increased their price target on Applied Industrial Technologies from $162.00 to $182.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Finally, StockNews.com assumed coverage on Applied Industrial Technologies in a research note on Thursday, October 5th. They issued a “buy” rating for the company.

Insider Transactions at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 5,470 shares of Applied Industrial Technologies stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $164.50, for a total value of $899,815.00. Following the completion of the transaction, the vice president now directly owns 21,269 shares of the company’s stock, valued at approximately $3,498,750.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Kurt W. Loring sold 5,470 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $164.50, for a total value of $899,815.00. Following the completion of the sale, the vice president now directly owns 21,269 shares in the company, valued at approximately $3,498,750.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mary Dean Hall sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $153.99, for a total value of $307,980.00. Following the completion of the sale, the director now owns 4,812 shares of the company’s stock, valued at $740,999.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,359 shares of company stock valued at $2,732,283. Corporate insiders own 2.20% of the company’s stock.

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.