Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Grace & White Inc. NY

Grace & White Inc. NY trimmed its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,816 shares of the industrial products company’s stock after selling 2,500 shares during the period. Applied Industrial Technologies accounts for about 6.1% of Grace & White Inc. NY’s portfolio, making the stock its biggest holding. Grace & White Inc. NY’s holdings in Applied Industrial Technologies were worth $33,875,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Dundas Partners LLP acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $46,805,000. Nordea Investment Management AB acquired a new stake in Applied Industrial Technologies during the 1st quarter worth approximately $39,093,000. Retirement Systems of Alabama acquired a new stake in Applied Industrial Technologies during the 1st quarter worth approximately $19,263,000. F M Investments LLC acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $15,690,000. Finally, TimesSquare Capital Management LLC lifted its holdings in Applied Industrial Technologies by 91.5% during the 1st quarter. TimesSquare Capital Management LLC now owns 114,977 shares of the industrial products company’s stock worth $22,714,000 after purchasing an additional 54,927 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AIT shares. Bank of America started coverage on Applied Industrial Technologies in a report on Monday, October 7th. They set a “neutral” rating and a $232.00 price target for the company. Raymond James assumed coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price objective for the company. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Northcoast Research assumed coverage on Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating for the company. Finally, Loop Capital lifted their price objective on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.14.

Insider Transactions at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction on 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 transaction, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction on 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 transaction, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,927 shares of company stock valued at $2,439,116. Corporate insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $230.03 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. Applied Industrial Technologies, Inc. has a 52 week low of $149.59 and a 52 week high of $235.75. The stock has a market capitalization of $8.88 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. The stock has a fifty day moving average of $212.49 and a 200-day moving average of $200.31.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm earned $2.35 EPS. Applied Industrial Technologies’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.69 earnings per share for the current fiscal year.

About Applied Industrial Technologies

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.