Creative Planning decreased its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 7.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,885 shares of the industrial products company’s stock after selling 156 shares during the period. Creative Planning’s holdings in Applied Industrial Technologies were worth $111,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AIT. Teachers Advisors LLC boosted its stake in shares of Applied Industrial Technologies by 5.6% in the fourth quarter. Teachers Advisors LLC now owns 60,328 shares of the industrial products company’s stock valued at $3,583,000 after buying an additional 3,178 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Applied Industrial Technologies by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the industrial products company’s stock valued at $983,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Applied Industrial Technologies by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,320 shares of the industrial products company’s stock valued at $267,000 after buying an additional 90 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Applied Industrial Technologies by 15.2% in the first quarter. Acadian Asset Management LLC now owns 192,384 shares of the industrial products company’s stock valued at $11,898,000 after buying an additional 25,344 shares during the last quarter. Finally, Sit Investment Associates Inc. boosted its stake in shares of Applied Industrial Technologies by 253.8% in the first quarter. Sit Investment Associates Inc. now owns 4,600 shares of the industrial products company’s stock valued at $285,000 after buying an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) traded down 0.27% during mid-day trading on Wednesday, reaching $56.35. 92,351 shares of the company’s stock traded hands. The firm’s 50-day moving average is $57.44 and its 200 day moving average is $60.54. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 20.69 and a beta of 0.95. Applied Industrial Technologies, Inc. has a one year low of $43.50 and a one year high of $69.00.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.56. The business had revenue of $681.47 million during the quarter, compared to the consensus estimate of $680.20 million. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. Analysts predict that Applied Industrial Technologies, Inc. will post $3.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, August 11th. Applied Industrial Technologies’s payout ratio is currently 34.12%.

TRADEMARK VIOLATION WARNING: “Creative Planning Decreases Position in Applied Industrial Technologies, Inc. (AIT)” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was copied illegally and republished in violation of United States & international trademark & copyright laws. The legal version of this article can be read at https://www.watchlistnews.com/creative-planning-decreases-position-in-applied-industrial-technologies-inc-ait/1495970.html.

AIT has been the subject of several research reports. Zacks Investment Research cut shares of Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Wells Fargo & Company restated a “market perform” rating and set a $63.00 price objective (down from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. BidaskClub cut shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.00.

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.

Want to see what other hedge funds are holding AIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Industrial Technologies, Inc. (NYSE:AIT).

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

Receive News & Ratings for Applied Industrial Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.