Sanctuary Advisors LLC Sells 6,199 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Sanctuary Advisors LLC reduced its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 87.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 870 shares of the industrial products company’s stock after selling 6,199 shares during the quarter. Sanctuary Advisors LLC’s holdings in Applied Industrial Technologies were worth $194,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. GHP Investment Advisors Inc. increased its holdings in shares of Applied Industrial Technologies by 3.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 43 shares during the last quarter. Dana Investment Advisors Inc. increased its position in Applied Industrial Technologies by 0.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock worth $1,928,000 after purchasing an additional 65 shares in the last quarter. Coldstream Capital Management Inc. grew its position in Applied Industrial Technologies by 3.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 68 shares during the last quarter. Fox Hill Wealth Management lifted its position in shares of Applied Industrial Technologies by 3.9% in the 2nd quarter. Fox Hill Wealth Management now owns 1,929 shares of the industrial products company’s stock worth $374,000 after purchasing an additional 72 shares during the period. Finally, Ballentine Partners LLC lifted its stake in Applied Industrial Technologies by 7.1% in the third quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company’s stock valued at $248,000 after buying an additional 74 shares during the period. Institutional investors own 93.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $285.00 to $315.00 in a research report on Tuesday, November 26th. Oppenheimer upped 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 note on Thursday, November 14th. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, December 19th. Loop Capital raised their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Raymond James increased their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.71.

Applied Industrial Technologies Stock Down 1.2 %

Shares of NYSE AIT opened at $241.55 on Monday. Applied Industrial Technologies, Inc. has a 12 month low of $163.50 and a 12 month high of $282.98. The firm has a market capitalization of $9.29 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 3.71 and a beta of 1.05. The firm has a fifty day simple moving average of $256.89 and a two-hundred day simple moving average of $223.33. 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 (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the company earned $2.39 EPS. Equities analysts expect that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 0.61%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.10%.

Insider Buying and Selling at Applied Industrial Technologies

In related news, Director Mary Dean Hall sold 2,200 shares of the stock in a transaction dated Wednesday, November 27th. The shares were 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 of the company’s stock, valued at approximately $952,326.96. This trade represents a 38.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the sale, the vice president now owns 55,709 shares in the company, valued at approximately $15,689,882.76. This trade represents a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is owned by corporate insiders.

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.