Harbor Capital Advisors Inc. Makes New Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

Harbor Capital Advisors Inc. purchased a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,166 shares of the industrial products company’s stock, valued at approximately $2,268,000.

A number of other large investors have also recently modified their holdings of AIT. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies during the 1st quarter valued at $25,000. Headlands Technologies LLC bought a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $32,000. V Square Quantitative Management LLC purchased a new stake in Applied Industrial Technologies in the third quarter worth about $34,000. Finally, Quarry LP bought a new position in Applied Industrial Technologies during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

AIT has been the subject of several research reports. Mizuho started coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price target for the company. Loop Capital upped their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Raymond James lifted their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, October 25th. StockNews.com upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lifted their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average target price of $261.43.

Insider Activity

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total transaction of $703,561.32. Following the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock valued at $2,439,116 over the last ninety days. 1.67% of the stock is currently owned by insiders.

Applied Industrial Technologies Trading Up 0.5 %

Shares of NYSE:AIT opened at $232.66 on Tuesday. The business’s 50-day moving average is $218.37 and its 200 day moving average is $203.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. Applied Industrial Technologies, Inc. has a 1 year low of $155.25 and a 1 year high of $240.45. The firm has a market capitalization of $8.95 billion, a P/E ratio of 23.74, a P/E/G ratio of 3.18 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.11. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.39 earnings per share. On average, research analysts predict that Applied Industrial Technologies, Inc. will post 9.74 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.64%. Applied Industrial Technologies’s payout ratio is currently 15.10%.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. 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.