ProShare Advisors LLC Has $7.74 Million Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

ProShare Advisors LLC lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,886 shares of the industrial products company’s stock after selling 7,696 shares during the quarter. ProShare Advisors LLC owned 0.10% of Applied Industrial Technologies worth $7,738,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. grew its position in Applied Industrial Technologies by 0.9% during the 2nd quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock worth $1,254,000 after acquiring an additional 55 shares during the last quarter. Miller Howard Investments Inc. NY lifted its stake in shares of Applied Industrial Technologies by 2.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 55 shares during the period. Measured Wealth Private Client Group LLC lifted its stake in shares of Applied Industrial Technologies by 1.2% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock valued at $969,000 after purchasing an additional 59 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Applied Industrial Technologies by 0.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock valued at $3,374,000 after purchasing an additional 61 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of Applied Industrial Technologies by 2.6% in the 1st quarter. Private Advisor Group LLC now owns 2,481 shares of the industrial products company’s stock valued at $490,000 after purchasing an additional 62 shares during the period. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Down 1.0 %

Applied Industrial Technologies stock opened at $222.45 on Wednesday. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.00 and a beta of 1.03. The stock has a fifty day simple moving average of $204.88 and a two-hundred day simple moving average of $196.09. Applied Industrial Technologies, Inc. has a 12 month low of $149.59 and a 12 month high of $226.23. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34.

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, topping analysts’ consensus estimates of $2.52 by $0.12. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 EPS. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.86 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, August 15th. Applied Industrial Technologies’s payout ratio is 15.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Raymond James began coverage on Applied Industrial Technologies in a research note on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price objective for the company. Loop Capital lifted their price objective on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. KeyCorp lifted their price objective on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Northcoast Research began coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

Insiders Place Their Bets

In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction on 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 sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,927 shares of company stock valued at $2,439,116. Corporate insiders own 2.20% of the company’s stock.

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.