GAMMA Investing LLC Has $188,000 Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

GAMMA Investing LLC grew its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 58.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 844 shares of the industrial products company’s stock after buying an additional 312 shares during the period. GAMMA Investing LLC’s holdings in Applied Industrial Technologies were worth $188,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EntryPoint Capital LLC acquired a new stake in Applied Industrial Technologies during the 1st quarter valued at $25,000. Headlands Technologies LLC acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth about $32,000. Quarry LP acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at about $39,000. Finally, ZRC Wealth Management LLC bought a new position in Applied Industrial Technologies in the 1st quarter valued at about $42,000. 93.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AIT. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Raymond James started coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price objective on the stock. Bank of America started coverage on Applied Industrial Technologies in a research report on Monday, October 7th. They set a “neutral” rating and a $232.00 price objective on the stock. Loop Capital boosted their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, KeyCorp raised their price target on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $229.50.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the company’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 completion of the sale, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated 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 $41,602,385.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Kurt W. Loring sold 4,858 shares of the 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 transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock valued at $2,439,116 over the last three months. 2.20% of the stock is owned by insiders.

Applied Industrial Technologies Stock Performance

AIT opened at $226.00 on Friday. 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 52-week low of $149.59 and a 52-week high of $226.53. The firm has a market cap of $8.72 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. The business’s fifty day moving average is $207.61 and its 200-day moving average is $198.56.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $2.35 earnings per share. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current fiscal year.

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.