Sei Investments Co. Has $15.68 Million Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Sei Investments Co. lessened its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,836 shares of the industrial products company’s stock after selling 569 shares during the period. Sei Investments Co. owned 0.21% of Applied Industrial Technologies worth $15,682,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AIT. Pacer Advisors Inc. raised its holdings in Applied Industrial Technologies by 9.2% in the 2nd quarter. Pacer Advisors Inc. now owns 8,734 shares of the industrial products company’s stock valued at $1,694,000 after buying an additional 735 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at approximately $419,000. Canada Pension Plan Investment Board raised its stake in shares of Applied Industrial Technologies by 38.6% during the second quarter. Canada Pension Plan Investment Board now owns 18,300 shares of the industrial products company’s stock valued at $3,550,000 after acquiring an additional 5,100 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Applied Industrial Technologies by 238.1% in the second quarter. Hsbc Holdings PLC now owns 33,824 shares of the industrial products company’s stock worth $6,530,000 after purchasing an additional 23,819 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Applied Industrial Technologies by 4.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,756 shares of the industrial products company’s stock worth $535,000 after purchasing an additional 122 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Stock Up 0.8 %

AIT stock opened at $221.96 on Friday. The stock’s 50 day simple moving average is $205.11 and its 200 day simple moving average is $196.26. The company has a market cap of $8.57 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.03. 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 fifty-two week low of $149.59 and a fifty-two week high of $226.23.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share 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 for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the sale, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the transaction, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kurt W. Loring sold 3,366 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,927 shares of company stock worth $2,439,116. 2.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AIT has been the topic of several recent research reports. Loop Capital lifted their target price on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. KeyCorp upped their target price on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Northcoast Research started coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

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.