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

Kessler Investment Group LLC trimmed its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 33.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 323 shares of the industrial products company’s stock after selling 159 shares during the quarter. Kessler Investment Group LLC’s holdings in Applied Industrial Technologies were worth $77,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at about $34,000. First Horizon Advisors Inc. boosted its holdings in Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at about $84,000. Versant Capital Management Inc boosted its holdings in Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 55 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at about $114,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares in the company, valued at $952,326.96. The trade was a 38.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the transaction, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by company insiders.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $265.11 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week high of $282.98. The firm’s 50 day moving average price is $254.60 and its 200 day moving average price is $236.96. The company has a market cap of $10.17 billion, a P/E ratio of 26.86, a PEG ratio of 3.43 and a beta of 1.08. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.87 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s payout ratio is 14.99%.

Analyst Ratings Changes

AIT has been the topic of several recent analyst reports. Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Mizuho began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price target on the stock. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Raymond James reissued an “outperform” rating and issued a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $291.43.

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.