Kestra Investment Management LLC lessened its position in Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report) by 41.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,241 shares of the industrial products company’s stock after selling 2,319 shares during the quarter. Kestra Investment Management LLC’s holdings in Applied Industrial Technologies were worth $1,077,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of AIT. Alpine Bank Wealth Management acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $25,000. Global Retirement Partners LLC bought a new position in shares of Applied Industrial Technologies in the second quarter worth about $37,000. Kilter Group LLC bought a new position in shares of Applied Industrial Technologies in the second quarter worth about $40,000. Silvant Capital Management LLC bought a new position in shares of Applied Industrial Technologies in the second quarter worth about $54,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of Applied Industrial Technologies in the second quarter worth about $96,000. Institutional investors and hedge funds own 93.52% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. KeyCorp decreased their target price on Applied Industrial Technologies from $420.00 to $360.00 and set an “overweight” rating for the company in a research note on Wednesday, October 28th. Weiss Ratings lowered Applied Industrial Technologies from a “buy (b)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. Oppenheimer reaffirmed an “outperform” rating on shares of Applied Industrial Technologies in a research report on Wednesday, October 28th. Mizuho dropped their price target on Applied Industrial Technologies from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Finally, Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $380.00.
Read Our Latest Stock Analysis on Applied Industrial Technologies
Insider Transactions at Applied Industrial Technologies
In other Applied Industrial Technologies news, CFO David K. Wells sold 1,812 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the completion of the sale, the chief financial officer owned 32,050 shares in the company, valued at approximately $11,380,955. This trade represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Wallace sold 1,904 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total value of $648,216.80. Following the completion of the sale, the director owned 22,859 shares of the company’s stock, valued at $7,782,346.55. This represents a 7.69% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by company insiders.
Applied Industrial Technologies Price Performance
Shares of Applied Industrial Technologies stock opened at $298.80 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.89 and a quick ratio of 1.90. The company has a market cap of $10.91 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 2.37 and a beta of 0.87. The firm has a fifty day moving average price of $321.75 and a two-hundred day moving average price of $309.80. Applied Industrial Technologies, Inc. has a fifty-two week low of $238.72 and a fifty-two week high of $374.80.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.08. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. Applied Industrial Technologies had a net margin of 8.38% and a return on equity of 22.68%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.63 EPS. Analysts expect that Applied Industrial Technologies, Inc. will post 12.06 EPS for the current year.
Applied Industrial Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.05%.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc. distributes industrial products and provides engineering and related services to manufacturers and other industrial customers. Its offerings include bearings, power-transmission components, fluid-power products, automation equipment and general maintenance, repair and operations supplies. The company also provides technical support, engineering, systems integration, repair and inventory-management services. These capabilities help customers maintain equipment, improve production processes and manage the supply of industrial components.
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