Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 7.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,729 shares of the industrial products company’s stock after selling 1,542 shares during the period. Amalgamated Bank’s holdings in Applied Industrial Technologies were worth $3,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd bought a new position in Applied Industrial Technologies in the 1st quarter valued at about $593,000. American International Group Inc. boosted its holdings in shares of Applied Industrial Technologies by 232.6% in the first quarter. American International Group Inc. now owns 69,901 shares of the industrial products company’s stock valued at $13,809,000 after acquiring an additional 48,883 shares in the last quarter. Hennessy Advisors Inc. increased its stake in shares of Applied Industrial Technologies by 18.3% during the first quarter. Hennessy Advisors Inc. now owns 185,300 shares of the industrial products company’s stock valued at $36,606,000 after acquiring an additional 28,700 shares during the period. Campbell & CO Investment Adviser LLC raised its holdings in Applied Industrial Technologies by 116.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 7,623 shares of the industrial products company’s stock worth $1,316,000 after purchasing an additional 4,098 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Applied Industrial Technologies by 24.4% in the fourth quarter. Stifel Financial Corp now owns 34,551 shares of the industrial products company’s stock worth $5,967,000 after purchasing an additional 6,775 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Trading Down 2.4 %

Shares of NYSE AIT opened at $218.77 on Monday. The business has a fifty day simple moving average of $204.17 and a 200-day simple moving average of $195.55. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 2.00 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 12 month low of $149.59 and a 12 month high of $224.36. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $2.35 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.86 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a $0.37 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.68%. Applied Industrial Technologies’s payout ratio is currently 15.51%.

Insider Transactions at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the transaction, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the sale, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock valued at $2,439,116 over the last quarter. Company insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AIT shares. Raymond James began coverage on Applied Industrial Technologies in a research report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price target on the stock. Robert W. Baird lifted their target price on Applied Industrial Technologies from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating for the company. KeyCorp lifted their price objective on shares of Applied Industrial Technologies from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Loop Capital boosted their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average target price of $223.00.

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.