US Bancorp DE Purchases 50 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

US Bancorp DE increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,603 shares of the industrial products company’s stock after acquiring an additional 50 shares during the period. US Bancorp DE owned approximately 0.12% of Applied Industrial Technologies worth $10,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AIT. Boston Trust Walden Corp raised its position in shares of Applied Industrial Technologies by 1.2% in the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock worth $122,398,000 after buying an additional 7,720 shares in the last quarter. Dundas Partners LLP bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at about $46,805,000. Handelsbanken Fonder AB grew its holdings in shares of Applied Industrial Technologies by 28.7% during the third quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company’s stock worth $49,495,000 after purchasing an additional 49,500 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Applied Industrial Technologies by 18.2% in the second quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company’s stock worth $39,659,000 after purchasing an additional 31,514 shares during the last quarter. Finally, Nordea Investment Management AB purchased a new stake in Applied Industrial Technologies in the first quarter valued at approximately $39,093,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the company’s 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 completion of the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 approximately $3,922,876.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,927 shares of company stock worth $2,439,116. Company insiders own 1.67% of the company’s stock.

Analyst Upgrades and Downgrades

AIT has been the subject of a number of research reports. Loop Capital boosted their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. KeyCorp increased their target price on Applied Industrial Technologies from $245.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America lifted their price target on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. StockNews.com upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $261.43.

Applied Industrial Technologies Trading Down 0.0 %

Shares of AIT stock opened at $231.50 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The business has a 50-day moving average of $217.87 and a 200 day moving average of $202.68. The stock has a market capitalization of $8.90 billion, a PE ratio of 23.62, a P/E/G ratio of 3.25 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1-year low of $153.13 and a 1-year high of $240.45.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the business earned $2.39 earnings per share. The business’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.10%.

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.