Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,968 shares of the industrial products company’s stock after selling 848 shares during the period. MetLife Investment Management LLC’s holdings in Applied Industrial Technologies were worth $9,141,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the second quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC purchased a new stake in shares of Applied Industrial Technologies in the third quarter worth about $34,000. First Horizon Advisors Inc. grew its holdings in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 88 shares during the period. Finally, Quarry LP purchased a new position in Applied Industrial Technologies during the second quarter valued at approximately $39,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AIT has been the topic of a number of analyst reports. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $285.00 to $315.00 in a research report on Tuesday. Robert W. Baird raised their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Raymond James upped their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Loop Capital upped their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $278.57.

Applied Industrial Technologies Stock Down 2.3 %

NYSE AIT opened at $273.90 on Friday. Applied Industrial Technologies, Inc. has a one year low of $155.47 and a one year high of $282.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The business has a fifty day moving average price of $242.03 and a 200 day moving average price of $213.24. The company has a market cap of $10.53 billion, a P/E ratio of 27.95, a P/E/G ratio of 3.82 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm posted $2.39 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.37 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.54%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

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.