Crossmark Global Holdings Inc. Buys 728 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Crossmark Global Holdings Inc. increased its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 30.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,137 shares of the industrial products company’s stock after buying an additional 728 shares during the period. Crossmark Global Holdings Inc.’s holdings in Applied Industrial Technologies were worth $700,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AIT. Boston Trust Walden Corp boosted its holdings in shares of Applied Industrial Technologies by 1.2% during the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock worth $122,398,000 after acquiring an additional 7,720 shares during the period. Dundas Partners LLP acquired a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $46,805,000. Handelsbanken Fonder AB boosted its stake in Applied Industrial Technologies by 28.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company’s stock valued at $49,495,000 after purchasing an additional 49,500 shares during the period. Victory Capital Management Inc. grew its holdings in Applied Industrial Technologies by 18.2% in the 2nd quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company’s stock valued at $39,659,000 after buying an additional 31,514 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of 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 acquiring an additional 57,283 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 1.4 %

Shares of Applied Industrial Technologies stock opened at $266.73 on Friday. The firm’s 50 day moving average is $228.69 and its 200 day moving average is $207.49. The firm has a market capitalization of $10.25 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 3.73 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1 year low of $155.47 and a 1 year high of $276.97. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $2.39 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.74 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s payout ratio is 15.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Bank of America raised their price objective on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Mizuho began coverage on shares of Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 target price on the stock. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, 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 report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $267.86.

Insider Transactions at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction 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 transaction, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was 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 approximately $4,037,221.30. This represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,927 shares of company stock worth $2,439,116. Insiders own 1.67% of the company’s stock.

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.