Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,161 shares of the industrial products company’s stock after selling 5,207 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of Applied Industrial Technologies worth $7,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Applied Industrial Technologies by 0.3% during 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 acquiring an additional 14,858 shares in the last quarter. Boston Trust Walden Corp increased its stake in Applied Industrial Technologies by 1.2% during the 2nd 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 raised 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 worth $96,646,000 after buying an additional 507,750 shares during the last quarter. Fiduciary Management Inc. WI lifted its stake in shares of Applied Industrial Technologies by 3.2% during the fourth quarter. Fiduciary Management Inc. WI now owns 519,224 shares of the industrial products company’s stock worth $89,665,000 after buying an additional 15,928 shares during the period. Finally, Capital World Investors lifted its stake in shares of Applied Industrial Technologies by 51.7% during the fourth quarter. Capital World Investors now owns 310,480 shares of the industrial products company’s stock worth $53,617,000 after buying an additional 105,824 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Up 0.5 %

Applied Industrial Technologies stock opened at $223.06 on Friday. The business’s 50-day moving average price is $205.78 and its 200 day moving average price is $196.72. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 2.31 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 52 week low of $149.59 and a 52 week high of $226.31.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data 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 net margin of 8.61% and a return on equity of 23.55%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $2.35 EPS. The business’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AIT shares. Robert W. Baird upped 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. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Raymond James assumed coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 target price for the company. KeyCorp increased their price target on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Loop Capital lifted their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Two 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 currently has an average rating of “Moderate Buy” and an average target price of $229.00.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the transaction, the vice president now owns 19,315 shares in the company, valued at approximately $3,922,876.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 19,315 shares in the company, valued at $3,922,876.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 3,366 shares of the firm’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 sale, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock valued at $2,439,116 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies 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.