Inspire Investing LLC Has $618,000 Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Inspire Investing LLC trimmed its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,185 shares of the industrial products company’s stock after selling 887 shares during the quarter. Inspire Investing LLC’s holdings in Applied Industrial Technologies were worth $618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AIT. Capital Research Global Investors grew its holdings in Applied Industrial Technologies by 978.3% in the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock valued at $96,646,000 after buying an additional 507,750 shares in the last quarter. Norges Bank acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $72,436,000. Nordea Investment Management AB acquired a new stake in shares of Applied Industrial Technologies during the 1st quarter worth $39,093,000. Hennessy Advisors Inc. acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $27,043,000. Finally, Capital World Investors grew its holdings in shares of Applied Industrial Technologies by 51.7% during the 4th quarter. Capital World Investors now owns 310,480 shares of the industrial products company’s stock worth $53,617,000 after purchasing an additional 105,824 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the transaction, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,927 shares of company stock worth $2,439,116. 2.20% of the stock is currently owned by insiders.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $218.78 on Friday. The stock’s 50-day simple moving average is $204.17 and its 200 day simple moving average is $195.38. The firm has a market capitalization of $8.45 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies, Inc. has a twelve month low of $149.59 and a twelve month high of $224.36.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.52 by $0.12. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $2.35 earnings per share. On average, analysts anticipate that Applied Industrial Technologies, Inc. will post 9.86 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $0.37 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.48 annualized dividend and a yield of 0.68%. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AIT shares. Northcoast Research started coverage on Applied Industrial Technologies in a report on Monday, July 1st. They set a “neutral” rating on the stock. Raymond James started coverage on Applied Industrial Technologies in a report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 target price on the stock. KeyCorp increased their target price on Applied Industrial Technologies from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Loop Capital increased their target price on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Robert W. Baird raised their price objective on Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $223.00.

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.