Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 261.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 780 shares of the industrial products company’s stock after acquiring an additional 564 shares during the period. Tower Research Capital LLC TRC’s holdings in Applied Industrial Technologies were worth $111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Applied Industrial Technologies by 1.6% during the first quarter. Russell Investments Group Ltd. now owns 69,179 shares of the industrial products company’s stock worth $9,760,000 after buying an additional 1,081 shares in the last quarter. Palisade Capital Management LP lifted its position in Applied Industrial Technologies by 5.2% during the first quarter. Palisade Capital Management LP now owns 585,160 shares of the industrial products company’s stock worth $83,169,000 after buying an additional 29,173 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in Applied Industrial Technologies during the first quarter worth approximately $1,382,000. Federated Hermes Inc. lifted its position in Applied Industrial Technologies by 13,611.3% during the first quarter. Federated Hermes Inc. now owns 95,842 shares of the industrial products company’s stock worth $13,622,000 after buying an additional 95,143 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Applied Industrial Technologies by 11.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,248 shares of the industrial products company’s stock worth $888,000 after buying an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 92.49% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $157.04 on Friday. The business has a 50-day moving average of $146.67 and a 200 day moving average of $139.00. Applied Industrial Technologies, Inc. has a 12 month low of $96.43 and a 12 month high of $157.56. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 17.76 and a beta of 1.21. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.05 and a quick ratio of 2.12.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, August 10th. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.18. Applied Industrial Technologies had a return on equity of 25.62% and a net margin of 7.86%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business posted $2.02 EPS. Applied Industrial Technologies’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.01 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.84%.

Analysts Set New Price Targets

AIT has been the topic of a number of analyst reports. Loop Capital lifted their price objective on Applied Industrial Technologies from $170.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Robert W. Baird increased their price target on Applied Industrial Technologies from $161.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. KeyCorp increased their price target on Applied Industrial Technologies from $162.00 to $182.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Finally, StockNews.com began coverage on Applied Industrial Technologies in a report on Thursday, August 17th. They set a “buy” rating for the company.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 9,889 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $154.16, for a total value of $1,524,488.24. Following the sale, the chief executive officer now owns 292,307 shares of the company’s stock, valued at approximately $45,062,047.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 30,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $153.67, for a total value of $4,610,100.00. Following the sale, the chief executive officer now owns 302,307 shares of the company’s stock, valued at approximately $46,455,516.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 9,889 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $154.16, for a total value of $1,524,488.24. Following the completion of the sale, the chief executive officer now directly owns 292,307 shares in the company, valued at approximately $45,062,047.12. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

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.