Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by FORA Capital LLC

FORA Capital LLC lowered its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,349 shares of the industrial products company’s stock after selling 44 shares during the quarter. FORA Capital LLC’s holdings in Applied Industrial Technologies were worth $301,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Westfield Capital Management Co. LP purchased a new stake in Applied Industrial Technologies during the 3rd quarter worth $32,233,000. Sanctuary Advisors LLC acquired a new stake in shares of Applied Industrial Technologies during the second quarter valued at about $1,279,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Applied Industrial Technologies during the third quarter worth about $3,591,000. Janney Montgomery Scott LLC lifted its stake in shares of Applied Industrial Technologies by 126.0% in the third quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company’s stock worth $981,000 after acquiring an additional 2,451 shares in the last quarter. Finally, Dana Investment Advisors Inc. lifted its stake in shares of Applied Industrial Technologies by 0.7% in the second quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock worth $1,928,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $275.58 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. Applied Industrial Technologies, Inc. has a 12 month low of $156.50 and a 12 month high of $282.98. The company has a fifty day moving average price of $243.16 and a two-hundred day moving average price of $213.80. The company has a market cap of $10.60 billion, a PE ratio of 28.12, a P/E/G ratio of 3.76 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $2.39 EPS. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts expect that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio is presently 15.10%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AIT shares. Mizuho assumed coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective on the stock. KeyCorp raised their price target on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Robert W. Baird upped their price target on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $285.00 to $315.00 in a report on Tuesday. Finally, Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average target price of $278.57.

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.