Bowling Portfolio Management LLC bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 5,068 shares of the industrial products company’s stock, valued at approximately $279,000.

A number of other hedge funds have also bought and sold shares of AIT. Invesco Ltd. lifted its holdings in Applied Industrial Technologies by 365.6% during the first quarter. Invesco Ltd. now owns 470,330 shares of the industrial products company’s stock worth $21,503,000 after acquiring an additional 369,311 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Applied Industrial Technologies by 4.2% during the second quarter. Vanguard Group Inc. now owns 4,308,711 shares of the industrial products company’s stock worth $268,820,000 after acquiring an additional 172,907 shares in the last quarter. ProShare Advisors LLC bought a new position in Applied Industrial Technologies during the second quarter worth about $7,541,000. Neuberger Berman Group LLC lifted its holdings in Applied Industrial Technologies by 13.5% during the second quarter. Neuberger Berman Group LLC now owns 750,952 shares of the industrial products company’s stock worth $46,852,000 after acquiring an additional 89,277 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Applied Industrial Technologies during the third quarter worth about $4,764,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.

Several research analysts have weighed in on the company. TheStreet upgraded Applied Industrial Technologies from a “c” rating to a “b-” rating in a report on Wednesday, August 12th. Zacks Investment Research upgraded Applied Industrial Technologies from a “strong sell” rating to a “hold” rating and set a $65.00 price target on the stock in a report on Tuesday, October 13th. Wells Fargo & Company boosted their price target on Applied Industrial Technologies from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Sidoti upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Tuesday, September 1st. Finally, Longbow Research restated a “buy” rating and issued a $78.00 price target on shares of Applied Industrial Technologies in a report on Friday, August 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $74.83.

NYSE:AIT opened at $62.34 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.81 and a current ratio of 2.72. The stock’s 50-day simple moving average is $57.94 and its 200 day simple moving average is $57.62. The company has a market cap of $2.42 billion, a P/E ratio of 103.90 and a beta of 1.39. Applied Industrial Technologies, Inc. has a 52-week low of $30.66 and a 52-week high of $70.62.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Wednesday, August 12th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. The business had revenue of $725.08 million for the quarter, compared to the consensus estimate of $751.25 million. Applied Industrial Technologies had a return on equity of 16.69% and a net margin of 0.74%. As a group, equities analysts predict that Applied Industrial Technologies, Inc. will post 3.05 earnings per share for the current fiscal year.

In related news, Director Peter A. Dorsman sold 10,208 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $60.40, for a total value of $616,563.20. 2.70% of the stock is currently owned by insiders.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power & Flow Control.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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