Janney Montgomery Scott LLC Has $981,000 Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Janney Montgomery Scott LLC raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 126.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,396 shares of the industrial products company’s stock after acquiring an additional 2,451 shares during the period. Janney Montgomery Scott LLC’s holdings in Applied Industrial Technologies were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dundas Partners LLP bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at about $46,805,000. International Assets Investment Management LLC bought a new position in Applied Industrial Technologies in the third quarter valued at approximately $213,590,000. F M Investments LLC acquired a new position in shares of Applied Industrial Technologies in the second quarter valued at approximately $15,690,000. New York State Common Retirement Fund increased its position in shares of Applied Industrial Technologies by 65.6% during the third quarter. New York State Common Retirement Fund now owns 144,621 shares of the industrial products company’s stock worth $32,269,000 after acquiring an additional 57,283 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Applied Industrial Technologies by 28.7% during the third quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company’s stock worth $49,495,000 after acquiring an additional 49,500 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $266.73 on Friday. The stock has a market capitalization of $10.25 billion, a PE ratio of 27.22, a P/E/G ratio of 3.73 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1-year low of $155.47 and a 1-year high of $276.97. The firm has a fifty day simple moving average of $230.16 and a 200 day simple moving average of $208.06. 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 released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $2.39 EPS. Applied Industrial Technologies’s revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies’s payout ratio is presently 15.10%.

Analysts Set New Price Targets

AIT has been the subject of a number of research analyst reports. Loop Capital upped 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 note on Monday, October 28th. Mizuho began coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price objective for the company. Robert W. Baird lifted their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Raymond James upped their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Oppenheimer lifted their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.86.

Insider Activity at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the sale, the vice president now owns 19,315 shares in the company, valued at $3,922,876.50. The trade was a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $748,894.72. Following the transaction, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,927 shares of company stock worth $2,439,116. Company insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Company 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.