Teachers Retirement System of The State of Kentucky Buys Shares of 41,491 Applied Industrial Technologies, Inc. (NYSE:AIT)

Teachers Retirement System of The State of Kentucky bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 41,491 shares of the industrial products company’s stock, valued at approximately $4,264,000.

Other large investors have also recently bought and sold shares of the company. Wipfli Financial Advisors LLC bought a new position in Applied Industrial Technologies in the third quarter valued at about $31,000. Ellevest Inc. increased its stake in shares of Applied Industrial Technologies by 30.7% in the third quarter. Ellevest Inc. now owns 370 shares of the industrial products company’s stock valued at $38,000 after buying an additional 87 shares during the period. Federated Hermes Inc. increased its stake in shares of Applied Industrial Technologies by 54.9% in the third quarter. Federated Hermes Inc. now owns 553 shares of the industrial products company’s stock valued at $57,000 after buying an additional 196 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Applied Industrial Technologies by 252.8% in the third quarter. Quadrant Capital Group LLC now owns 1,083 shares of the industrial products company’s stock valued at $111,000 after buying an additional 776 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Applied Industrial Technologies by 9.9% in the third quarter. Van ECK Associates Corp now owns 1,114 shares of the industrial products company’s stock valued at $114,000 after buying an additional 100 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 4,186 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $145.00, for a total value of $606,970.00. Following the completion of the sale, the chief executive officer now owns 339,744 shares of the company’s stock, valued at $49,262,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 4,186 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $145.00, for a total value of $606,970.00. Following the completion of the sale, the chief executive officer now owns 339,744 shares of the company’s stock, valued at $49,262,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil A. Schrimsher sold 21,526 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $145.06, for a total value of $3,122,561.56. Following the completion of the transaction, the chief executive officer now owns 318,218 shares in the company, valued at approximately $46,160,703.08. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Trading Down 1.6 %

NYSE AIT opened at $132.23 on Friday. The business has a 50 day simple moving average of $136.55 and a 200 day simple moving average of $124.59. Applied Industrial Technologies, Inc. has a one year low of $88.09 and a one year high of $149.42. The stock has a market capitalization of $5.10 billion, a P/E ratio of 16.97 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.18 and a quick ratio of 2.01.

Applied Industrial Technologies (NYSE:AIT – Get Rating) last released its earnings results on Thursday, January 26th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.71 by $0.34. Applied Industrial Technologies had a return on equity of 25.58% and a net margin of 7.32%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $996.44 million. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. Research analysts expect that Applied Industrial Technologies, Inc. will post 8.34 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Tuesday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.34. Applied Industrial Technologies’s dividend payout ratio (DPR) is 17.97%.

Analyst Upgrades and Downgrades

AIT has been the subject of several recent research reports. StockNews.com initiated coverage on Applied Industrial Technologies in a research note on Thursday. They issued a “buy” rating for the company. Robert W. Baird raised Applied Industrial Technologies from a “neutral” rating to an “outperform” rating and set a $160.00 price target for the company in a research note on Friday. Loop Capital increased their price target on Applied Industrial Technologies from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, January 27th. Finally, KeyCorp raised their target price on Applied Industrial Technologies from $138.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th.

Applied Industrial Technologies Company Profile

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Applied Industrial Technologies, Inc engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution, and Fluid Power & Flow Control Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers.