Vanguard Personalized Indexing Management LLC Increases Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Vanguard Personalized Indexing Management LLC raised its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 4.6% during the second quarter, HoldingsChannel reports. The firm owned 2,756 shares of the industrial products company’s stock after purchasing an additional 122 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Applied Industrial Technologies were worth $535,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its position in shares of Applied Industrial Technologies by 0.9% during the 2nd quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock valued at $1,254,000 after purchasing an additional 55 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in Applied Industrial Technologies by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock worth $446,000 after buying an additional 55 shares in the last quarter. Measured Wealth Private Client Group LLC grew its position in Applied Industrial Technologies by 1.2% during the first quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock valued at $969,000 after acquiring an additional 59 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Applied Industrial Technologies by 0.4% during the second quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock worth $3,374,000 after acquiring an additional 61 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Applied Industrial Technologies by 2.6% during the first quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock worth $490,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

AIT has been the topic of several recent research reports. Loop Capital increased their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 16th. Robert W. Baird raised their price objective on Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Northcoast Research initiated coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating on the stock. Finally, Raymond James assumed coverage on Applied Industrial Technologies in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock worth $2,439,116 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $221.96 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34. The firm has a market cap of $8.57 billion, a P/E ratio of 23.27, a P/E/G ratio of 2.31 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1-year low of $149.59 and a 1-year high of $226.23. The firm has a 50-day moving average of $205.11 and a 200-day moving average of $196.26.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, topping 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 business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $2.35 EPS. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.71 EPS for the current year.

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.