nVerses Capital LLC Acquires Shares of 700 Applied Industrial Technologies, Inc. (NYSE:AIT)

nVerses Capital LLC bought a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, Holdings Channel.com reports. The firm bought 700 shares of the industrial products company’s stock, valued at approximately $156,000.

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. boosted its holdings in Applied Industrial Technologies by 0.9% in the 2nd quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock worth $1,254,000 after acquiring an additional 55 shares during the period. Miller Howard Investments Inc. NY grew its holdings in Applied Industrial Technologies by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 55 shares in the last quarter. Measured Wealth Private Client Group LLC increased its stake in Applied Industrial Technologies by 1.2% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock worth $969,000 after buying an additional 59 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Applied Industrial Technologies by 0.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock worth $3,374,000 after buying an additional 61 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in Applied Industrial Technologies by 2.6% in the 1st quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock valued at $490,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on AIT shares. Raymond James initiated coverage on 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. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating on the stock. Finally, Loop Capital boosted their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $236.17.

Applied Industrial Technologies Stock Down 1.3 %

Shares of NYSE:AIT opened at $232.07 on Friday. The company’s fifty day moving average is $211.77 and its two-hundred day moving average is $200.02. 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 1-year low of $149.59 and a 1-year high of $235.75. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results 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 analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. Applied Industrial Technologies’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $2.35 earnings per share. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Neil A. Schrimsher sold 3,703 shares of the 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 owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. 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. Company 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.