Romano Brothers AND Company Has $6.11 Million Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Romano Brothers AND Company reduced its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,362 shares of the industrial products company’s stock after selling 349 shares during the quarter. Romano Brothers AND Company owned approximately 0.07% of Applied Industrial Technologies worth $6,105,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Boston Trust Walden Corp boosted its stake in Applied Industrial Technologies by 1.2% during the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock worth $122,398,000 after acquiring an additional 7,720 shares in the last quarter. Dundas Partners LLP bought a new stake in Applied Industrial Technologies during the second quarter worth $46,805,000. Handelsbanken Fonder AB boosted its position in Applied Industrial Technologies by 28.7% in the third quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company’s stock worth $49,495,000 after purchasing an additional 49,500 shares during the last quarter. Victory Capital Management Inc. grew its position in Applied Industrial Technologies by 18.2% during the second quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company’s stock valued at $39,659,000 after buying an additional 31,514 shares during the period. Finally, Nordea Investment Management AB bought a new position in Applied Industrial Technologies during the first quarter valued at $39,093,000. Institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AIT shares. Mizuho began coverage on Applied Industrial Technologies in a report on Tuesday. They issued an “outperform” rating and a $285.00 price target for the company. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating on the stock. StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, KeyCorp boosted their price objective on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

Insider Activity

In related news, VP Kurt W. Loring sold 3,366 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Kurt W. Loring sold 3,366 shares of the 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now directly owns 19,315 shares in the company, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock worth $2,439,116 in the last quarter. 2.20% of the stock is owned by company insiders.

Applied Industrial Technologies Stock Down 1.1 %

Shares of Applied Industrial Technologies stock opened at $223.81 on Thursday. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies, Inc. has a 12-month low of $149.59 and a 12-month high of $235.75. The company has a market cap of $8.64 billion, a P/E ratio of 23.46, a PEG ratio of 3.12 and a beta of 1.03. The company’s fifty day simple moving average is $213.57 and its two-hundred day simple moving average is $200.68.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. Applied Industrial Technologies’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.35 earnings per share. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current year.

About Applied Industrial Technologies

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.