Healthcare of Ontario Pension Plan Trust Fund raised its position in Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) by 7.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,500 shares of the industrial products company’s stock after acquiring an additional 2,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of Applied Industrial Technologies worth $2,645,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. UBS Group AG lifted its holdings in Applied Industrial Technologies by 25.9% in the second quarter. UBS Group AG now owns 2,293 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 472 shares during the period. Martingale Asset Management L P lifted its holdings in Applied Industrial Technologies by 10.7% in the second quarter. Martingale Asset Management L P now owns 20,967 shares of the industrial products company’s stock valued at $2,018,000 after acquiring an additional 2,030 shares during the period. Polaris Capital Management LLC raised its stake in shares of Applied Industrial Technologies by 1,386.1% in the second quarter. Polaris Capital Management LLC now owns 133,751 shares of the industrial products company’s stock worth $65,701,000 after buying an additional 124,751 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Applied Industrial Technologies by 16.5% in the second quarter. Mutual of America Capital Management LLC now owns 6,457 shares of the industrial products company’s stock worth $621,000 after buying an additional 915 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Applied Industrial Technologies by 21.0% in the second quarter. Mackenzie Financial Corp now owns 2,846 shares of the industrial products company’s stock worth $274,000 after buying an additional 493 shares during the period. Institutional investors own 93.10% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on AIT shares. Robert W. Baird downgraded Applied Industrial Technologies from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $115.00 to $129.00 in a research note on Friday, August 12th. KeyCorp raised their price objective on Applied Industrial Technologies from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Finally, StockNews.com assumed coverage on Applied Industrial Technologies in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock.
Applied Industrial Technologies Stock Up 0.5 %
Applied Industrial Technologies (NYSE:AIT – Get Rating) last issued its earnings results on Thursday, October 27th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.34. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $988.51 million. Applied Industrial Technologies had a return on equity of 25.06% and a net margin of 7.07%. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the company earned $1.36 EPS. Research analysts expect that Applied Industrial Technologies, Inc. will post 7.52 earnings per share for the current fiscal year.
Applied Industrial Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, November 14th. Applied Industrial Technologies’s dividend payout ratio is presently 18.89%.
Insider Buying and Selling at Applied Industrial Technologies
In other Applied Industrial Technologies news, VP Kurt W. Loring sold 7,146 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $112.66, for a total transaction of $805,068.36. Following the completion of the transaction, the vice president now owns 24,632 shares in the company, valued at approximately $2,775,041.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.
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 through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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.
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