Pacer Advisors Inc. Boosts Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Pacer Advisors Inc. lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.2% in the second quarter, HoldingsChannel reports. The firm owned 8,734 shares of the industrial products company’s stock after purchasing an additional 735 shares during the quarter. Pacer Advisors Inc.’s holdings in Applied Industrial Technologies were worth $1,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Applied Industrial Technologies by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock valued at $875,912,000 after purchasing an additional 14,858 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Applied Industrial Technologies by 1.2% in the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock valued at $122,398,000 after purchasing an additional 7,720 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Applied Industrial Technologies by 978.3% in the fourth quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock valued at $96,646,000 after purchasing an additional 507,750 shares in the last quarter. Fiduciary Management Inc. WI grew its holdings in shares of Applied Industrial Technologies by 3.2% in the fourth quarter. Fiduciary Management Inc. WI now owns 519,224 shares of the industrial products company’s stock valued at $89,665,000 after purchasing an additional 15,928 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of Applied Industrial Technologies by 51.7% in the fourth quarter. Capital World Investors now owns 310,480 shares of the industrial products company’s stock valued at $53,617,000 after purchasing an additional 105,824 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the transaction, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction dated 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 owns 19,315 shares in the company, valued at $4,037,221.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,927 shares of company stock worth $2,439,116. Company insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Stock Up 0.8 %

NYSE:AIT opened at $221.96 on Friday. Applied Industrial Technologies, Inc. has a twelve month low of $149.59 and a twelve month high of $226.23. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 23.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.03. The stock has a fifty day simple moving average of $205.11 and a 200-day simple moving average of $196.26. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.52 by $0.12. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $2.35 earnings per share. Analysts anticipate that Applied Industrial Technologies, Inc. will post 9.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird raised their price target on Applied Industrial Technologies from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Loop Capital raised their price target on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Raymond James assumed coverage on Applied Industrial Technologies in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price target for the company. KeyCorp raised their price target on Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Northcoast Research assumed coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.00.

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.