Ritholtz Wealth Management Sells 583 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Ritholtz Wealth Management lowered its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,369 shares of the industrial products company’s stock after selling 583 shares during the period. Ritholtz Wealth Management’s holdings in Applied Industrial Technologies were worth $2,981,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AIT. Picton Mahoney Asset Management bought a new position in shares of Applied Industrial Technologies in the second quarter worth about $166,000. Farther Finance Advisors LLC boosted its stake in Applied Industrial Technologies by 2,609.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,192 shares of the industrial products company’s stock worth $227,000 after purchasing an additional 1,148 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Applied Industrial Technologies by 18.4% in the second quarter. Van ECK Associates Corp now owns 18,066 shares of the industrial products company’s stock worth $3,505,000 after buying an additional 2,803 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in Applied Industrial Technologies by 10.0% during the second quarter. Banque Cantonale Vaudoise now owns 5,021 shares of the industrial products company’s stock valued at $974,000 after buying an additional 455 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV bought a new position in Applied Industrial Technologies during the second quarter valued at $539,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

AIT has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Loop Capital upped their price objective on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Northcoast Research initiated coverage on Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating for the company. Robert W. Baird increased their price target on Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 24th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $222.50.

Insider Activity

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the transaction, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the sale, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Trading Up 0.8 %

AIT opened at $205.12 on Monday. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average is $199.95 and its two-hundred day moving average is $193.78. The company has a market capitalization of $7.92 billion, a P/E ratio of 21.50, a PEG ratio of 2.13 and a beta of 1.06. Applied Industrial Technologies, Inc. has a 52 week low of $149.59 and a 52 week high of $223.15.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the firm posted $2.35 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.65 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a $0.37 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.72%. Applied Industrial Technologies’s payout ratio is presently 15.51%.

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.