Teachers Retirement System of The State of Kentucky Maintains Holdings in Applied Industrial Technologies, Inc. (AIT)

Teachers Retirement System of The State of Kentucky continued to hold its position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,325 shares of the industrial products company’s stock at the end of the 2nd quarter. Teachers Retirement System of The State of Kentucky’s holdings in Applied Industrial Technologies were worth $846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Applied Industrial Technologies by 0.5% during the second quarter. BlackRock Inc. now owns 5,592,219 shares of the industrial products company’s stock valued at $330,220,000 after purchasing an additional 25,364 shares during the period. Vanguard Group Inc. raised its stake in shares of Applied Industrial Technologies by 4.8% during the second quarter. Vanguard Group Inc. now owns 3,662,402 shares of the industrial products company’s stock valued at $216,264,000 after purchasing an additional 166,858 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Applied Industrial Technologies by 4.9% during the second quarter. JPMorgan Chase & Co. now owns 2,007,925 shares of the industrial products company’s stock valued at $118,568,000 after purchasing an additional 94,681 shares during the period. State Street Corp raised its stake in shares of Applied Industrial Technologies by 6.3% during the first quarter. State Street Corp now owns 902,199 shares of the industrial products company’s stock valued at $55,799,000 after purchasing an additional 53,457 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Applied Industrial Technologies by 51.0% during the second quarter. Principal Financial Group Inc. now owns 717,817 shares of the industrial products company’s stock valued at $42,387,000 after purchasing an additional 242,556 shares during the period. Institutional investors own 87.54% of the company’s stock.

A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, BidaskClub lowered shares of Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $66.00.

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Shares of Applied Industrial Technologies, Inc. (AIT) opened at 63.55 on Friday. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 18.69 and a beta of 0.95. The company has a 50 day moving average of $60.99 and a 200-day moving average of $60.04. Applied Industrial Technologies, Inc. has a 52 week low of $43.50 and a 52 week high of $69.00.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.56. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The company had revenue of $681.47 million during the quarter, compared to analyst estimates of $680.20 million. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Applied Industrial Technologies, Inc. will post $3.10 earnings per share for the current fiscal year.

In other news, VP Mark O. Eisele sold 4,939 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.91, for a total transaction of $276,139.49. Following the completion of the transaction, the vice president now directly owns 106,090 shares in the company, valued at $5,931,491.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $56.92, for a total value of $341,520.00. Following the transaction, the vice president now owns 159,029 shares of the company’s stock, valued at $9,051,930.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,571 shares of company stock valued at $4,070,841. Corporate insiders own 3.70% of the company’s stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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

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