Cwm LLC Raises Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Cwm LLC grew its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,361 shares of the industrial products company’s stock after buying an additional 175 shares during the quarter. Cwm LLC’s holdings in Applied Industrial Technologies were worth $750,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in Applied Industrial Technologies in the first quarter worth about $25,000. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the second quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in Applied Industrial Technologies in the second quarter worth about $32,000. Quarry LP purchased a new stake in Applied Industrial Technologies in the second quarter worth about $39,000. Finally, ZRC Wealth Management LLC purchased a new stake in Applied Industrial Technologies in the first quarter worth about $42,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

AIT has been the subject of a number of analyst reports. Raymond James started coverage on Applied Industrial Technologies in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price target for the company. Bank of America started coverage on Applied Industrial Technologies in a research report on Monday, October 7th. They set a “neutral” rating and a $232.00 target price for the company. Northcoast Research started coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating for the company. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Robert W. Baird increased their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.17.

Insider Activity at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $41,602,385.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 $4,037,221.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,927 shares of company stock valued at $2,439,116. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $231.89 on Friday. The stock has a 50 day moving average of $211.77 and a 200 day moving average of $199.97. Applied Industrial Technologies, Inc. has a 12 month low of $149.59 and a 12 month high of $235.75. The firm has a market cap of $8.95 billion, a PE ratio of 24.31, a PEG ratio of 3.12 and a beta of 1.03. 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 announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $2.35 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current fiscal year.

About Applied Industrial Technologies

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.