KBC Group NV Increases Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

KBC Group NV boosted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 12.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,096 shares of the industrial products company’s stock after acquiring an additional 123 shares during the period. KBC Group NV’s holdings in Applied Industrial Technologies were worth $245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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, New York State Common Retirement Fund raised its stake in Applied Industrial Technologies by 65.6% in the third quarter. New York State Common Retirement Fund now owns 144,621 shares of the industrial products company’s stock valued at $32,269,000 after purchasing an additional 57,283 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the business’s 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 directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The trade was a 20.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.67% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $266.28 on Wednesday. The stock has a market capitalization of $10.24 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 3.66 and a beta of 1.03. Applied Industrial Technologies, Inc. has a one year low of $155.47 and a one year high of $276.97. 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’s 50 day simple moving average is $231.56 and its two-hundred day simple moving average is $209.01.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 8.57% and a return on equity of 22.68%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.39 EPS. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.56%. Applied Industrial Technologies’s dividend payout ratio is presently 15.10%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AIT. Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Mizuho initiated coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price objective for the company. Finally, Raymond James raised their price objective on Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $267.86.

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.