GAMMA Investing LLC Has $223,000 Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

GAMMA Investing LLC raised its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 933 shares of the industrial products company’s stock after buying an additional 89 shares during the period. GAMMA Investing LLC’s holdings in Applied Industrial Technologies were worth $223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its holdings in shares of Applied Industrial Technologies by 3.9% in the third quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 43 shares in the last quarter. Versant Capital Management Inc lifted its stake in Applied Industrial Technologies by 16.8% during the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 55 shares in the last quarter. Dana Investment Advisors Inc. lifted its stake in Applied Industrial Technologies by 0.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock valued at $1,928,000 after acquiring an additional 65 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Applied Industrial Technologies by 3.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 68 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Applied Industrial Technologies by 7.1% in the 3rd quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 74 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on AIT. Mizuho assumed coverage on shares of Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target on the stock. KeyCorp boosted their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird increased 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. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, December 19th. Finally, Oppenheimer raised their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $285.71.

Insider Buying and Selling at Applied Industrial Technologies

In related news, Director Mary Dean Hall sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 owns 3,462 shares of the company’s stock, valued at approximately $952,326.96. The trade was a 38.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now owns 55,709 shares in the company, valued at $15,689,882.76. This represents a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $248.39 on Wednesday. Applied Industrial Technologies, Inc. has a 1 year low of $163.50 and a 1 year high of $282.98. 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 stock’s fifty day moving average price is $258.39 and its two-hundred day moving average price is $225.64. The firm has a market cap of $9.55 billion, a PE ratio of 25.35, a PEG ratio of 3.71 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.39 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.60%. Applied Industrial Technologies’s dividend payout ratio is 15.10%.

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.