BlackRock Inc. raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,592,219 shares of the industrial products company’s stock after buying an additional 25,364 shares during the quarter. BlackRock Inc. owned about 14.33% of Applied Industrial Technologies worth $330,220,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 worth $216,199,000 after buying an additional 174,201 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Applied Industrial Technologies by 4.9% during the second quarter. JPMorgan Chase & Co. now owns 2,007,925 shares of the industrial products company’s stock worth $118,568,000 after buying an additional 94,681 shares in the last quarter. State Street Corp grew its holdings in shares of Applied Industrial Technologies by 6.3% during the first quarter. State Street Corp now owns 902,199 shares of the industrial products company’s stock worth $55,799,000 after buying an additional 53,457 shares in the last quarter. Principal Financial Group Inc. grew 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. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Applied Industrial Technologies by 0.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 652,947 shares of the industrial products company’s stock worth $38,553,000 after buying an additional 2,051 shares in the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

In other Applied Industrial Technologies news, VP Mark O. Eisele sold 8,926 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $54.42, for a total value of $485,752.92. Following the completion of the sale, the vice president now owns 135,029 shares in the company, valued at approximately $7,348,278.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark O. Eisele sold 6,000 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $56.11, for a total value of $336,660.00. Following the completion of the sale, the vice president now owns 153,029 shares of the company’s stock, valued at approximately $8,586,457.19. The disclosure for this sale can be found here. Insiders sold a total of 73,571 shares of company stock valued at $4,070,841 in the last 90 days. 3.70% of the stock is owned by company insiders.

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Applied Industrial Technologies, Inc. (NYSE:AIT) opened at 65.80 on Friday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 19.35 and a beta of 0.92. Applied Industrial Technologies, Inc. has a 52 week low of $43.50 and a 52 week high of $69.00. The firm’s 50-day moving average is $56.83 and its 200 day moving average is $59.68.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.56. Applied Industrial Technologies had a net margin of 5.16% and a return on equity of 15.89%. The firm had revenue of $681.47 million during the quarter, compared to the consensus estimate of $680.20 million. During the same quarter in the previous year, the company posted $0.66 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts expect that Applied Industrial Technologies, Inc. will post $3.11 EPS for the current year.

AIT has been the subject of a number of research reports. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub raised shares of Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. ValuEngine raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Finally, Northcoast Research started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Applied Industrial Technologies currently has an average rating of “Hold” and a consensus target price of $66.00.

Applied Industrial Technologies Company 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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