Los Angeles Capital Management LLC Has $206,000 Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Los Angeles Capital Management LLC reduced its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 96.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 923 shares of the industrial products company’s stock after selling 29,216 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Applied Industrial Technologies were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dundas Partners LLP acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth about $46,805,000. Fiera Capital Corp increased its holdings in shares of Applied Industrial Technologies by 456.3% during the third quarter. Fiera Capital Corp now owns 130,895 shares of the industrial products company’s stock worth $29,207,000 after buying an additional 107,365 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies during the third quarter worth approximately $213,590,000. F M Investments LLC acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $15,690,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Applied Industrial Technologies by 65.6% in the 3rd quarter. New York State Common Retirement Fund now owns 144,621 shares of the industrial products company’s stock worth $32,269,000 after acquiring an additional 57,283 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Trading Up 0.2 %

AIT opened at $267.40 on Tuesday. The firm has a 50 day simple moving average of $230.16 and a 200 day simple moving average of $208.43. Applied Industrial Technologies, Inc. has a fifty-two week low of $155.47 and a fifty-two week high of $276.97. The company has a market cap of $10.28 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 3.66 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74.

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

Applied Industrial Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho initiated coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price objective for the company. Bank of America upped their price target on shares of Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Oppenheimer raised their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Loop Capital upped their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Robert W. Baird raised their price target 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. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $267.86.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the sale, the vice president now directly owns 19,315 shares in the company, valued at approximately $3,922,876.50. This trade represents a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.67% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Company 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.