Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its position in Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,283 shares of the industrial products company’s stock after selling 1,751 shares during the quarter. Texas Permanent School Fund Corp owned about 0.08% of Applied Industrial Technologies worth $4,991,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank lifted its position in shares of Applied Industrial Technologies by 963.2% in the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 183 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 3.3% in the third quarter. HighTower Advisors LLC now owns 9,773 shares of the industrial products company’s stock valued at $1,511,000 after purchasing an additional 313 shares during the last quarter. Pathstone Family Office LLC increased its holdings in shares of Applied Industrial Technologies by 44.3% in the third quarter. Pathstone Family Office LLC now owns 9,792 shares of the industrial products company’s stock valued at $1,514,000 after purchasing an additional 3,004 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Applied Industrial Technologies by 20.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 1,939 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 324 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Applied Industrial Technologies by 42.8% in the third quarter. Van ECK Associates Corp now owns 7,757 shares of the industrial products company’s stock valued at $1,199,000 after purchasing an additional 2,325 shares during the last quarter. Hedge funds and other institutional investors own 92.49% of the company’s stock.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $187.22 on Tuesday. Applied Industrial Technologies, Inc. has a 52 week low of $122.24 and a 52 week high of $189.48. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $7.24 billion, a P/E ratio of 19.64 and a beta of 1.07. The stock’s fifty day moving average is $173.23 and its two-hundred day moving average is $161.70.

Applied Industrial Technologies (NYSE:AITGet Free Report) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.13. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities analysts expect that Applied Industrial Technologies, Inc. will post 9.59 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th will be given a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.79%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.35. Applied Industrial Technologies’s payout ratio is currently 14.69%.

Wall Street Analyst Weigh In

Separately, KeyCorp increased their price target on Applied Industrial Technologies from $182.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 26th.

View Our Latest Report on Applied Industrial Technologies

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of Applied Industrial Technologies stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total value of $364,680.00. Following the sale, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Warren E. Hoffner III sold 2,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total value of $364,680.00. Following the sale, the vice president now owns 57,155 shares in the company, valued at approximately $10,421,642.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Wallace sold 1,130 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $163.19, for a total value of $184,404.70. Following the completion of the sale, the director now owns 23,641 shares in the company, valued at approximately $3,857,974.79. The disclosure for this sale can be found here. Insiders have sold 5,114 shares of company stock worth $872,497 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Applied Industrial Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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