Guyasuta Investment Advisors Inc. trimmed its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) by 0.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,405 shares of the industrial products company's stock after selling 215 shares during the quarter. Guyasuta Investment Advisors Inc. owned 0.08% of Applied Industrial Technologies worth $2,828,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its stake in Applied Industrial Technologies by 38.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 141 shares during the period. CWM LLC lifted its holdings in Applied Industrial Technologies by 61.8% during the 1st quarter. CWM LLC now owns 526 shares of the industrial products company's stock worth $54,000 after purchasing an additional 201 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Applied Industrial Technologies during the 4th quarter worth about $93,000. Silvant Capital Management LLC purchased a new stake in Applied Industrial Technologies during the 1st quarter worth about $151,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Applied Industrial Technologies by 249.4% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,569 shares of the industrial products company's stock worth $161,000 after purchasing an additional 1,120 shares in the last quarter. 93.10% of the stock is owned by institutional investors and hedge funds.
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Analyst Ratings Changes
AIT has been the topic of a number of recent research reports. KeyCorp dropped their price objective on Applied Industrial Technologies from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Wednesday. Robert W. Baird cut Applied Industrial Technologies from an "outperform" rating to a "neutral" rating and increased their price objective for the stock from $115.00 to $129.00 in a report on Friday, August 12th. Finally, StockNews.com cut Applied Industrial Technologies from a "strong-buy" rating to a "buy" rating in a report on Tuesday.
Insider Activity
In other news, Director Vincent K. Petrella sold 3,114 shares of the firm's stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $114.76, for a total value of $357,362.64. Following the completion of the transaction, the director now owns 18,666 shares in the company, valued at approximately $2,142,110.16. The transaction was disclosed in a document filed with the SEC, which is available at
the SEC website. In other Applied Industrial Technologies news, Director Vincent K. Petrella sold 3,114 shares of Applied Industrial Technologies stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $114.76, for a total transaction of $357,362.64. Following the completion of the transaction, the director now owns 18,666 shares in the company, valued at $2,142,110.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through
this link. Also, VP Kurt W. Loring sold 7,146 shares of Applied Industrial Technologies stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $112.66, for a total value of $805,068.36. Following the transaction, the vice president now owns 24,632 shares of the company's stock, valued at approximately $2,775,041.12. The disclosure for this sale can be found
here. 2.20% of the stock is currently owned by company insiders.
Applied Industrial Technologies Price Performance
AIT opened at $102.78 on Friday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 15.60 and a beta of 1.19. Applied Industrial Technologies, Inc. has a 1 year low of $88.09 and a 1 year high of $121.20. The stock's 50 day simple moving average is $105.63 and its 200 day simple moving average is $101.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.72 and a quick ratio of 1.82.
Applied Industrial Technologies (NYSE:AIT – Get Rating) last released its earnings results on Thursday, August 11th. The industrial products company reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.36. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $977.43 million. Applied Industrial Technologies had a return on equity of 24.25% and a net margin of 6.76%. The firm's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 EPS. As a group, analysts predict that Applied Industrial Technologies, Inc. will post 7.19 earnings per share for the current year.
Applied Industrial Technologies Company Profile
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Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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.
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