Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Duality Advisers LP

Duality Advisers LP boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.7% during the 4th quarter, Holdings Channel reports. The firm owned 3,251 shares of the industrial products company’s stock after acquiring an additional 392 shares during the quarter. Duality Advisers LP’s holdings in Applied Industrial Technologies were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Foundry Partners LLC increased its position in shares of Applied Industrial Technologies by 39.5% in the 4th quarter. Foundry Partners LLC now owns 2,984 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 845 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at about $393,000. Federated Hermes Inc. raised its stake in shares of Applied Industrial Technologies by 14.9% in the fourth quarter. Federated Hermes Inc. now owns 190,025 shares of the industrial products company’s stock worth $32,815,000 after purchasing an additional 24,631 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Applied Industrial Technologies by 3.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,151 shares of the industrial products company’s stock worth $1,408,000 after purchasing an additional 256 shares during the period. Finally, Strs Ohio lifted its holdings in shares of Applied Industrial Technologies by 1.0% during the fourth quarter. Strs Ohio now owns 40,200 shares of the industrial products company’s stock worth $6,942,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 3.9 %

Applied Industrial Technologies stock opened at $178.79 on Friday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 52 week low of $122.24 and a 52 week high of $201.76. The business’s 50-day moving average price is $190.03 and its 200 day moving average price is $175.31. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.11 by $0.13. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. Applied Industrial Technologies’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. As a group, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.49 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $182.34, for a total transaction of $364,680.00. Following the sale, the vice president now directly owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AIT. KeyCorp increased their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Oppenheimer initiated coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $201.00.

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.