Linden Thomas Advisory Services LLC Has $1.12 Million Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Linden Thomas Advisory Services LLC boosted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 15.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,686 shares of the industrial products company’s stock after buying an additional 632 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Applied Industrial Technologies were worth $1,122,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies during the third quarter worth about $34,000. First Horizon Advisors Inc. boosted its stake in shares of Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares in the last quarter. Quarry LP acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at approximately $39,000. UMB Bank n.a. boosted its stake in shares of Applied Industrial Technologies by 68.1% in the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 77 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Applied Industrial Technologies by 42.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 435 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 130 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AIT. Loop Capital raised their price target 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. KeyCorp raised their price target 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. Oppenheimer raised their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Raymond James lifted 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. Finally, StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $285.71.

Applied Industrial Technologies Stock Down 0.4 %

Applied Industrial Technologies stock opened at $260.36 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. Applied Industrial Technologies, Inc. has a 52-week low of $173.73 and a 52-week high of $282.98. The firm has a 50 day moving average price of $258.34 and a two-hundred day moving average price of $231.65. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 3.59 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $2.39 EPS. The company’s revenue was up .3% compared to the same quarter last year. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.77 EPS for the current year.

Insiders Place Their Bets

In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares in the company, valued at approximately $952,326.96. This trade represents a 38.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the transaction, 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 disclosure for this sale can be found here. Company insiders own 1.67% of the company’s stock.

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.