Crossmark Global Holdings Inc. Lowers Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Crossmark Global Holdings Inc. decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,824 shares of the industrial products company’s stock after selling 313 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Applied Industrial Technologies were worth $676,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AIT. Mountain Pacific Investment Advisers LLC raised its holdings in shares of Applied Industrial Technologies by 36.6% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 46,155 shares of the industrial products company’s stock valued at $11,053,000 after buying an additional 12,364 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Applied Industrial Technologies by 58.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,897 shares of the industrial products company’s stock valued at $1,173,000 after acquiring an additional 1,813 shares during the last quarter. Park Avenue Securities LLC lifted its position in Applied Industrial Technologies by 29.7% during the 4th quarter. Park Avenue Securities LLC now owns 1,411 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 323 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Applied Industrial Technologies by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 10,422 shares of the industrial products company’s stock valued at $2,496,000 after purchasing an additional 256 shares during the last quarter. Finally, Oliver Luxxe Assets LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter worth approximately $1,323,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the transaction, the director now directly owns 3,462 shares in the company, valued at $952,326.96. The trade was a 38.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the transaction, the vice president now directly owns 55,709 shares of the company’s stock, valued at $15,689,882.76. The trade was a 6.70 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AIT. Loop Capital boosted their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Robert W. Baird increased their price target on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Raymond James lifted 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. Mizuho began coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price for the company. Finally, StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $285.71.

Check Out Our Latest Research Report on Applied Industrial Technologies

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $260.36 on Friday. The stock has a fifty day moving average price of $258.34 and a 200 day moving average price of $231.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The stock has a market cap of $10.01 billion, a PE ratio of 26.57, a P/E/G ratio of 3.59 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 1 year low of $173.73 and a 1 year high of $282.98.

Applied Industrial Technologies (NYSE:AITGet Free Report) last released its quarterly earnings data 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. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned $2.39 EPS. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.77 earnings per share for the current fiscal year.

About Applied Industrial Technologies

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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