Russell Investments Group Ltd. trimmed its position in shares of Applied Industrial Technologies (NYSE:AIT) by 19.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 18,880 shares of the industrial products company’s stock after selling 4,620 shares during the period. Russell Investments Group Ltd.’s holdings in Applied Industrial Technologies were worth $1,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. grew its stake in Applied Industrial Technologies by 5.2% during the second quarter. BlackRock Inc. now owns 5,995,392 shares of the industrial products company’s stock worth $420,578,000 after buying an additional 297,005 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Applied Industrial Technologies by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,193,783 shares of the industrial products company’s stock worth $83,744,000 after buying an additional 8,062 shares in the last quarter. FMR LLC grew its stake in Applied Industrial Technologies by 50.0% during the second quarter. FMR LLC now owns 909,261 shares of the industrial products company’s stock worth $63,784,000 after buying an additional 302,972 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Applied Industrial Technologies by 34.6% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 736,681 shares of the industrial products company’s stock worth $51,678,000 after buying an additional 189,474 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in Applied Industrial Technologies by 11.0% during the second quarter. Macquarie Group Ltd. now owns 687,088 shares of the industrial products company’s stock worth $48,199,000 after buying an additional 68,063 shares in the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

In other news, Director Green Edith Kelly sold 7,090 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $65.51, for a total value of $464,465.90. Following the sale, the director now directly owns 19,240 shares in the company, valued at approximately $1,260,412.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

AIT opened at $59.64 on Friday. Applied Industrial Technologies has a 1-year low of $59.01 and a 1-year high of $82.35. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.67 and a current ratio of 2.76. The company has a market capitalization of $2.34 billion, a PE ratio of 15.95, a P/E/G ratio of 1.05 and a beta of 1.11.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.12. Applied Industrial Technologies had a net margin of 4.82% and a return on equity of 19.66%. The company had revenue of $864.50 million for the quarter, compared to the consensus estimate of $874.74 million. During the same period last year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 27.0% compared to the same quarter last year. On average, analysts expect that Applied Industrial Technologies will post 4.8 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. Applied Industrial Technologies’s payout ratio is currently 32.09%.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Co reduced their price objective on shares of Applied Industrial Technologies from $80.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Northcoast Research reiterated a “neutral” rating on shares of Applied Industrial Technologies in a research note on Friday, August 10th. Wellington Shields upgraded shares of Applied Industrial Technologies from a “gradually accumulate” rating to a “buy” rating in a research note on Monday, August 13th. Finally, Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $79.00.

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Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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

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