Seizert Capital Partners LLC Buys 14,949 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Seizert Capital Partners LLC raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 35.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,567 shares of the industrial products company’s stock after acquiring an additional 14,949 shares during the period. Seizert Capital Partners LLC owned about 0.15% of Applied Industrial Technologies worth $12,622,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Curi RMB Capital LLC grew its holdings in shares of Applied Industrial Technologies by 2.7% in the third quarter. Curi RMB Capital LLC now owns 82,392 shares of the industrial products company’s stock worth $18,384,000 after purchasing an additional 2,171 shares during the last quarter. KBC Group NV grew its holdings in Applied Industrial Technologies by 12.6% in the 3rd quarter. KBC Group NV now owns 1,096 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 123 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Applied Industrial Technologies by 85.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,318 shares of the industrial products company’s stock valued at $517,000 after acquiring an additional 1,069 shares during the period. MQS Management LLC bought a new position in shares of Applied Industrial Technologies during the third quarter valued at about $468,000. Finally, Chartwell Investment Partners LLC boosted its holdings in shares of Applied Industrial Technologies by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 10,602 shares of the industrial products company’s stock worth $2,365,000 after purchasing an additional 85 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. This represents a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock valued at $2,439,116 in the last 90 days. Corporate insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $266.73 on Friday. The company’s fifty day moving average price is $230.16 and its 200-day moving average price is $208.06. The stock has a market cap of $10.25 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 3.73 and a beta of 1.03. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a 12 month low of $155.47 and a 12 month high of $276.97.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.25 by $0.11. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $2.39 earnings per share. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.37 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.55%. Applied Industrial Technologies’s payout ratio is currently 15.10%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho began coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target on the stock. StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Raymond James raised their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Loop Capital boosted their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $267.86.

Applied Industrial Technologies 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.