Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 37.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,427 shares of the industrial products company’s stock after purchasing an additional 3,665 shares during the period. Thrivent Financial for Lutherans’ holdings in Applied Industrial Technologies were worth $2,605,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new stake in Applied Industrial Technologies in the first quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the second quarter worth $26,000. ICA Group Wealth Management LLC purchased a new position in Applied Industrial Technologies in the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth $32,000. Finally, ZRC Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter worth $42,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on AIT shares. Loop Capital boosted their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Raymond James began coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price target on the stock. KeyCorp boosted their target price on Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Robert W. Baird raised their price target 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. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $223.13 on Tuesday. Applied Industrial Technologies, Inc. has a 1-year low of $149.59 and a 1-year high of $226.31. The firm has a 50 day simple moving average of $205.78 and a 200-day simple moving average of $196.88. The firm has a market cap of $8.61 billion, a PE ratio of 23.39, a P/E/G ratio of 2.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.12. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations 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 was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 earnings per share. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.71 EPS for the current year.

Insiders Place Their Bets

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 transaction of $703,561.32. Following the transaction, the vice president now directly owns 19,315 shares in the company, valued at approximately $4,037,221.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the sale, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of the firm’s 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 completion of the transaction, the vice president now owns 19,315 shares in the company, valued at $4,037,221.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,927 shares of company stock valued at $2,439,116. Insiders own 2.20% of the company’s stock.

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.