Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,203 shares of the industrial products company’s stock after acquiring an additional 253 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Applied Industrial Technologies were worth $621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AIT. EntryPoint Capital LLC acquired a new position in Applied Industrial Technologies in the first quarter valued at approximately $25,000. ICA Group Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies in the 4th quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in Applied Industrial Technologies during the 2nd quarter worth $32,000. Finally, ZRC Wealth Management LLC acquired a new stake in Applied Industrial Technologies in the first quarter worth $42,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Up 0.5 %

Shares of NYSE:AIT opened at $223.07 on Friday. Applied Industrial Technologies, Inc. has a twelve month low of $149.59 and a twelve month high of $226.31. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34. The firm has a market cap of $8.61 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.31 and a beta of 1.03. The company has a 50 day moving average of $205.40 and a 200-day moving average of $196.44.

Applied Industrial Technologies (NYSE:AIT) last released 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 firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm posted $2.35 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AIT shares. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating for the company. Raymond James began coverage on shares of Applied Industrial Technologies in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price target on the stock. Loop Capital boosted their price objective 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. Finally, Robert W. Baird raised their target price on Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s 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 sale, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the sale, the chief executive officer now directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at $3,922,876.50. The disclosure for this sale can be found here. Insiders sold 11,927 shares of company stock valued at $2,439,116 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

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.