Sequoia Financial Advisors LLC Sells 338 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Sequoia Financial Advisors LLC trimmed its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AITFree Report) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,348 shares of the industrial products company’s stock after selling 338 shares during the period. Sequoia Financial Advisors LLC’s holdings in Applied Industrial Technologies were worth $266,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Private Advisor Group LLC raised its position in shares of Applied Industrial Technologies by 2.6% during the 1st quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 62 shares during the last quarter. Retirement Systems of Alabama acquired a new position in Applied Industrial Technologies in the first quarter valued at about $19,263,000. Van ECK Associates Corp lifted its stake in Applied Industrial Technologies by 36.5% in the first quarter. Van ECK Associates Corp now owns 15,263 shares of the industrial products company’s stock valued at $3,015,000 after buying an additional 4,082 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Applied Industrial Technologies by 4.9% during the first quarter. Commonwealth Equity Services LLC now owns 6,972 shares of the industrial products company’s stock worth $1,377,000 after buying an additional 326 shares during the last quarter. Finally, Securian Asset Management Inc. acquired a new position in shares of Applied Industrial Technologies during the 1st quarter worth about $628,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $183.80 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77. Applied Industrial Technologies, Inc. has a 52 week low of $138.38 and a 52 week high of $201.76. The company’s 50 day moving average price is $191.35 and its two-hundred day moving average price is $186.30. The company has a market capitalization of $7.09 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.87 and a beta of 1.06.

Applied Industrial Technologies (NYSE:AITGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.40 by $0.08. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.38 EPS. On average, analysts expect that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.81%. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $196.71, for a total value of $127,861.50. Following the sale, the vice president now owns 22,960 shares in the company, valued at approximately $4,516,461.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AIT. Northcoast Research began coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They issued a “neutral” rating on the stock. KeyCorp increased their target price on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Oppenheimer began coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Read Our Latest Stock Analysis on Applied Industrial Technologies

Applied Industrial Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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