Banque Cantonale Vaudoise Purchases 571 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Banque Cantonale Vaudoise raised its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 11.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,592 shares of the industrial products company’s stock after purchasing an additional 571 shares during the period. Banque Cantonale Vaudoise’s holdings in Applied Industrial Technologies were worth $1,248,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in shares of Applied Industrial Technologies in the first quarter worth $25,000. Headlands Technologies LLC bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Applied Industrial Technologies during the second quarter worth about $32,000. V Square Quantitative Management LLC purchased a new position in shares of Applied Industrial Technologies during the third quarter worth about $34,000. Finally, Quarry LP bought a new position in shares of Applied Industrial Technologies in the second quarter worth approximately $39,000. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Trading Down 0.1 %

NYSE AIT opened at $265.96 on Thursday. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $232.93 and a 200-day moving average of $209.58. The firm has a market cap of $10.23 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 3.66 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1-year low of $155.47 and a 1-year high of $276.97.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $2.39 earnings per share. The business’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AIT shares. Robert W. Baird increased their price target 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. KeyCorp upped their target price on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. StockNews.com upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Oppenheimer increased their price objective on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Finally, Bank of America raised their price objective on Applied Industrial Technologies from $232.00 to $240.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $267.86.

Insider Transactions at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.67% of the stock is currently owned by company insiders.

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.