GSA Capital Partners LLP Reduces Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

GSA Capital Partners LLP lessened its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.5% during the 3rd quarter, Holdings Channel reports. The firm owned 3,446 shares of the industrial products company’s stock after selling 536 shares during the quarter. GSA Capital Partners LLP’s holdings in Applied Industrial Technologies were worth $769,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AIT. EntryPoint Capital LLC purchased a new stake in Applied Industrial Technologies in the 1st quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in shares of Applied Industrial Technologies in the second quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Applied Industrial Technologies in the second quarter worth $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies during the third quarter valued at $34,000. Finally, Quarry LP purchased a new stake in Applied Industrial Technologies during the 2nd quarter worth about $39,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Down 1.6 %

AIT stock opened at $266.73 on Monday. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 3.66 and a beta of 1.03. The business has a fifty day simple moving average of $230.16 and a 200-day simple moving average of $208.23. Applied Industrial Technologies, Inc. has a 52 week low of $155.47 and a 52 week high of $276.97.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.25 by $0.11. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.39 earnings per share. On average, equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.55%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.10%.

Insiders Place Their Bets

In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction on Friday, August 30th. The shares were 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 approximately $3,922,876.50. The trade was a 20.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.67% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AIT. Robert W. Baird upped their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. KeyCorp raised their target price on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Raymond James raised their price objective on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Oppenheimer upped their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $267.86.

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.