Curi RMB Capital LLC Boosts Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Curi RMB Capital LLC lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 82,392 shares of the industrial products company’s stock after purchasing an additional 2,171 shares during the quarter. Curi RMB Capital LLC’s holdings in Applied Industrial Technologies were worth $18,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. lifted its stake in Applied Industrial Technologies by 3.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 43 shares during the period. QRG Capital Management Inc. boosted its holdings in Applied Industrial Technologies by 0.9% in the second quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock valued at $1,254,000 after purchasing an additional 55 shares during the last quarter. Miller Howard Investments Inc. NY grew its position in Applied Industrial Technologies by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 55 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Applied Industrial Technologies by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock valued at $3,374,000 after buying an additional 61 shares during the last quarter. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of Applied Industrial Technologies by 0.7% in the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock valued at $1,928,000 after buying an additional 65 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $271.51 on Thursday. The firm has a 50-day simple moving average of $225.72 and a 200-day simple moving average of $206.59. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 3.76 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 52 week low of $155.47 and a 52 week high of $276.97.

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

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

Analyst Ratings Changes

Several brokerages recently weighed in on AIT. Oppenheimer lifted their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday. Bank of America lifted their price target on Applied Industrial Technologies from $232.00 to $240.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Loop Capital upped their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Raymond James boosted their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.86.

Insider Transactions at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the sale, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock worth $2,439,116 in the last quarter. Company insiders own 1.67% of the company’s stock.

About Applied Industrial Technologies

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.