2,350 Shares in Applied Industrial Technologies, Inc. $AIT Bought by Bull Harbor Capital LLC

Bull Harbor Capital LLC acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,350 shares of the industrial products company’s stock, valued at approximately $624,000.

Other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP increased its position in Applied Industrial Technologies by 34.3% in the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock valued at $259,706,000 after acquiring an additional 249,961 shares during the period. Capital International Investors lifted its position in Applied Industrial Technologies by 25.4% during the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after acquiring an additional 195,043 shares during the period. Wellington Management Group LLP increased its holdings in shares of Applied Industrial Technologies by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock valued at $199,355,000 after purchasing an additional 6,953 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Applied Industrial Technologies by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock worth $185,833,000 after purchasing an additional 3,348 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Applied Industrial Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock worth $176,479,000 after purchasing an additional 1,889 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on AIT shares. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Mizuho lifted their target price on shares of Applied Industrial Technologies from $330.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. KeyCorp increased their price target on shares of Applied Industrial Technologies from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $336.71.

Insider Transactions at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the sale, the vice president directly owned 40,751 shares in the company, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the sale, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This trade represents a 43.71% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by insiders.

Applied Industrial Technologies Trading Up 1.8%

NYSE:AIT opened at $340.33 on Friday. Applied Industrial Technologies, Inc. has a 1 year low of $238.34 and a 1 year high of $352.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The stock has a fifty day moving average price of $326.83 and a two-hundred day moving average price of $297.61. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 2.88 and a beta of 0.83.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the firm earned $2.57 EPS. The business’s revenue was up 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.26%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.