Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 65.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,621 shares of the industrial products company’s stock after purchasing an additional 57,283 shares during the period. New York State Common Retirement Fund’s holdings in Applied Industrial Technologies were worth $32,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dundas Partners LLP purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at $46,805,000. Nordea Investment Management AB purchased a new stake in Applied Industrial Technologies during the first quarter worth about $39,093,000. International Assets Investment Management LLC purchased a new stake in Applied Industrial Technologies during the third quarter worth about $213,590,000. F M Investments LLC acquired a new stake in shares of Applied Industrial Technologies during the second quarter worth about $15,690,000. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Applied Industrial Technologies by 91.5% in the first quarter. TimesSquare Capital Management LLC now owns 114,977 shares of the industrial products company’s stock valued at $22,714,000 after purchasing an additional 54,927 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Trading Down 0.0 %

AIT opened at $231.50 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. Applied Industrial Technologies, Inc. has a one year low of $153.13 and a one year high of $240.45. The company has a market cap of $8.90 billion, a P/E ratio of 23.62, a PEG ratio of 3.25 and a beta of 1.03. The business’s 50-day simple moving average is $217.87 and its 200-day simple moving average is $202.68.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm posted $2.39 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s payout ratio is 15.10%.

Analysts Set New Price Targets

AIT has been the topic of a number of research reports. Mizuho assumed coverage on shares of Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price on the stock. Oppenheimer increased their price objective on Applied Industrial Technologies from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Bank of America boosted their target price on Applied Industrial Technologies from $232.00 to $240.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Robert W. Baird increased their price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.43.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,927 shares of company stock worth $2,439,116. Corporate insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Company Profile

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.