Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 17,851 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 40.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 25,842 shares of the industrial products company’s stock after selling 17,851 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Applied Industrial Technologies were worth $3,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new stake in Applied Industrial Technologies in the second quarter valued at approximately $2,381,000. FinTrust Capital Advisors LLC bought a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $25,000. Huntington National Bank boosted its holdings in Applied Industrial Technologies by 963.2% in the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 183 shares during the last quarter. Point72 Middle East FZE bought a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $28,000. Finally, State of Wyoming bought a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $29,000. 92.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, KeyCorp boosted their price target on Applied Industrial Technologies from $182.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 26th.

Check Out Our Latest Stock Report on AIT

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $187.93 on Monday. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36. Applied Industrial Technologies, Inc. has a twelve month low of $122.24 and a twelve month high of $188.49. The stock’s 50 day moving average is $172.85 and its 200-day moving average is $161.38. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 19.72 and a beta of 1.07.

Applied Industrial Technologies (NYSE:AITGet Free Report) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. Applied Industrial Technologies’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.59 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Thursday, February 15th will be given a $0.37 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Wednesday, February 14th. Applied Industrial Technologies’s dividend payout ratio is presently 14.69%.

Insider Activity at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 2,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total value of $364,680.00. Following the completion of the sale, the vice president now directly owns 57,155 shares of the company’s stock, valued at approximately $10,421,642.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 5,470 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $164.50, for a total value of $899,815.00. Following the completion of the transaction, the vice president now owns 21,269 shares in the company, valued at approximately $3,498,750.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Warren E. Hoffner III sold 2,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the completion of the transaction, the vice president now owns 57,155 shares of the company’s stock, valued at approximately $10,421,642.70. The disclosure for this sale can be found here. In the last three months, insiders sold 10,584 shares of company stock valued at $1,772,312. 2.00% of the stock is owned by insiders.

About Applied Industrial Technologies

(Free Report)

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.

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

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