Dana Investment Advisors Inc. Has $1.93 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Dana Investment Advisors Inc. increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,939 shares of the industrial products company’s stock after acquiring an additional 65 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Applied Industrial Technologies were worth $1,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIT. Capital Research Global Investors raised its stake in shares of Applied Industrial Technologies by 978.3% in the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock valued at $96,646,000 after purchasing an additional 507,750 shares during the period. Dundas Partners LLP acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at about $46,805,000. Nordea Investment Management AB acquired a new stake in shares of Applied Industrial Technologies in the 1st quarter valued at about $39,093,000. Capital World Investors raised its stake in shares of Applied Industrial Technologies by 51.7% in the 4th quarter. Capital World Investors now owns 310,480 shares of the industrial products company’s stock valued at $53,617,000 after purchasing an additional 105,824 shares during the period. Finally, Retirement Systems of Alabama acquired a new stake in shares of Applied Industrial Technologies in the 1st quarter valued at about $19,263,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $221.98 on Thursday. Applied Industrial Technologies, Inc. has a 52-week low of $149.59 and a 52-week high of $226.31. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. The company has a market cap of $8.57 billion, a P/E ratio of 23.27, a P/E/G ratio of 2.31 and a beta of 1.03. The stock’s 50-day simple moving average is $206.73 and its 200 day simple moving average is $197.55.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.35 earnings per share. As a group, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction 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 transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction 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 transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction on Friday, August 30th. The stock was 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 $3,922,876.50. 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 ninety days. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AIT has been the topic of several recent research reports. Northcoast Research initiated coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating on the stock. Raymond James initiated coverage on Applied Industrial Technologies in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price target on the stock. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Robert W. Baird lifted their target price on Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, KeyCorp lifted their target price on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus target price of $229.00.

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.