Ellevest Inc. Raises Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Ellevest Inc. lifted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 62.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494 shares of the industrial products company’s stock after buying an additional 572 shares during the quarter. Ellevest Inc.’s holdings in Applied Industrial Technologies were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AIT. BlackRock Inc. grew its holdings in Applied Industrial Technologies by 7.0% in the first quarter. BlackRock Inc. now owns 7,001,286 shares of the industrial products company’s stock valued at $718,751,000 after purchasing an additional 459,302 shares during the period. Norges Bank purchased a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $56,563,000. ArrowMark Colorado Holdings LLC purchased a new stake in Applied Industrial Technologies in the first quarter valued at approximately $35,137,000. FMR LLC grew its holdings in Applied Industrial Technologies by 14.0% in the first quarter. FMR LLC now owns 1,283,113 shares of the industrial products company’s stock valued at $182,369,000 after purchasing an additional 157,775 shares during the period. Finally, Millennium Management LLC grew its holdings in Applied Industrial Technologies by 4,394.2% in the second quarter. Millennium Management LLC now owns 154,781 shares of the industrial products company’s stock valued at $14,885,000 after purchasing an additional 151,337 shares during the period. 92.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 9,889 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $154.16, for a total transaction of $1,524,488.24. Following the transaction, the chief executive officer now directly owns 292,307 shares of the company’s stock, valued at $45,062,047.12. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Mary Dean Hall sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $153.99, for a total transaction of $307,980.00. Following the transaction, the director now directly owns 4,812 shares of the company’s stock, valued at $740,999.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil A. Schrimsher sold 9,889 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $154.16, for a total transaction of $1,524,488.24. Following the transaction, the chief executive officer now directly owns 292,307 shares in the company, valued at $45,062,047.12. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Trading Up 3.8 %

Shares of AIT stock opened at $167.08 on Wednesday. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 18.04 and a beta of 1.14. The company has a quick ratio of 2.44, a current ratio of 3.52 and a debt-to-equity ratio of 0.39. Applied Industrial Technologies, Inc. has a fifty-two week low of $116.94 and a fifty-two week high of $167.53. The firm’s 50 day moving average price is $156.68 and its two-hundred day moving average price is $145.84.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.84%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.12%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AIT shares. Loop Capital boosted their target price on shares of Applied Industrial Technologies from $170.00 to $174.00 and gave the company a “buy” rating in a report on Monday, August 14th. Robert W. Baird boosted their target price on shares of Applied Industrial Technologies from $161.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 11th. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $162.00 to $182.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Finally, StockNews.com initiated coverage on shares of Applied Industrial Technologies in a report on Thursday, October 5th. They issued a “buy” rating for the company.

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.