California State Teachers Retirement System decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,902 shares of the industrial products company’s stock after selling 3,669 shares during the period. California State Teachers Retirement System owned about 0.17% of Applied Industrial Technologies worth $4,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIT. Principal Financial Group Inc. increased its holdings in shares of Applied Industrial Technologies by 51.0% during the second quarter. Principal Financial Group Inc. now owns 717,817 shares of the industrial products company’s stock worth $42,387,000 after buying an additional 242,556 shares in the last quarter. AJO LP bought a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $11,749,000. Vanguard Group Inc. grew its stake in shares of Applied Industrial Technologies by 5.2% during the first quarter. Vanguard Group Inc. now owns 3,495,544 shares of the industrial products company’s stock valued at $216,199,000 after purchasing an additional 174,201 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Applied Industrial Technologies by 80.2% during the first quarter. Bank of America Corp DE now owns 316,347 shares of the industrial products company’s stock valued at $19,566,000 after purchasing an additional 140,779 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Applied Industrial Technologies by 11.2% during the second quarter. State Street Corp now owns 1,003,427 shares of the industrial products company’s stock valued at $59,253,000 after purchasing an additional 101,228 shares during the last quarter. 87.15% of the stock is owned by institutional investors.

Applied Industrial Technologies, Inc. (AIT) opened at $62.85 on Friday. Applied Industrial Technologies, Inc. has a 52 week low of $48.70 and a 52 week high of $70.05. The stock has a market cap of $2,439.52, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. The firm had revenue of $680.70 million for the quarter, compared to analysts’ expectations of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. equities research analysts predict that Applied Industrial Technologies, Inc. will post 3.19 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.16 annualized dividend and a yield of 1.85%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 32.58%.

In other Applied Industrial Technologies news, VP Mark O. Eisele sold 4,939 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $55.91, for a total value of $276,139.49. Following the sale, the vice president now directly owns 106,090 shares in the company, valued at $5,931,491.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark O. Eisele sold 6,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $56.11, for a total transaction of $336,660.00. Following the completion of the sale, the vice president now owns 153,029 shares in the company, valued at $8,586,457.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,571 shares of company stock worth $4,070,841. Company insiders own 3.70% of the company’s stock.

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Several analysts have recently commented on AIT shares. Zacks Investment Research cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. ValuEngine raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $63.00 price objective (down from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. Finally, Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Applied Industrial Technologies has an average rating of “Hold” and an average price target of $66.00.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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