Captrust Financial Advisors Invests $227,000 in Applied Industrial Technologies, Inc. (NYSE:AIT)

Captrust Financial Advisors acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,017 shares of the industrial products company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AIT. Headlands Technologies LLC purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth about $26,000. V Square Quantitative Management LLC purchased a new stake in Applied Industrial Technologies during the third quarter worth approximately $34,000. First Horizon Advisors Inc. grew its stake 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 buying an additional 88 shares during the period. Quarry LP purchased a new stake in Applied Industrial Technologies during the second quarter worth approximately $39,000. Finally, UMB Bank n.a. lifted its position in shares of Applied Industrial Technologies by 68.1% during the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insider Transactions at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the transaction, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76. The trade was a 6.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Mizuho assumed coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price on the stock. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Loop Capital boosted their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $285.71.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $262.07 on Monday. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 3.71 and a beta of 1.05. The stock has a 50 day moving average of $253.09 and a 200-day moving average of $219.12. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a 52 week low of $163.50 and a 52 week high of $282.98.

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

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, November 15th. Applied Industrial Technologies’s payout ratio is currently 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.