International Assets Investment Management LLC Takes Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

International Assets Investment Management LLC purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 95,723 shares of the industrial products company’s stock, valued at approximately $213,590,000. International Assets Investment Management LLC owned about 0.25% of Applied Industrial Technologies at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in Applied Industrial Technologies during the first quarter valued at approximately $25,000. Headlands Technologies LLC bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Applied Industrial Technologies during the 3rd quarter valued at $34,000. Opal Wealth Advisors LLC bought a new stake in Applied Industrial Technologies in the second quarter worth $32,000. Finally, UMB Bank n.a. boosted its stake in Applied Industrial Technologies by 68.1% during the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 3.5 %

AIT opened at $231.75 on Friday. Applied Industrial Technologies, Inc. has a 52 week low of $149.59 and a 52 week high of $240.45. The company has a market capitalization of $8.95 billion, a P/E ratio of 24.29, a PEG ratio of 3.12 and a beta of 1.03. The stock’s fifty day moving average is $214.20 and its two-hundred day moving average is $200.90. 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 announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm posted $2.35 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.69 earnings per share for the current year.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 3,366 shares of the business’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 value of $703,561.32. Following the completion of the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the transaction, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,927 shares of company stock valued at $2,439,116. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AIT. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. Loop Capital raised their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Mizuho assumed coverage on Applied Industrial Technologies in a research report on Tuesday. They set an “outperform” rating and a $285.00 target price for the company. Raymond James initiated coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price target on the stock. Finally, Northcoast Research started coverage on Applied Industrial Technologies in a report on Monday, July 1st. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.14.

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.