Sendero Wealth Management LLC Has $291,000 Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)

Sendero Wealth Management LLC lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 55.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,215 shares of the industrial products company’s stock after selling 1,513 shares during the period. Sendero Wealth Management LLC’s holdings in Applied Industrial Technologies were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Applied Industrial Technologies by 58.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,897 shares of the industrial products company’s stock valued at $1,173,000 after buying an additional 1,813 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Applied Industrial Technologies by 29.7% in the fourth quarter. Park Avenue Securities LLC now owns 1,411 shares of the industrial products company’s stock valued at $338,000 after acquiring an additional 323 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Applied Industrial Technologies by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 10,422 shares of the industrial products company’s stock valued at $2,496,000 after acquiring an additional 256 shares in the last quarter. Oliver Luxxe Assets LLC bought a new position in Applied Industrial Technologies during the fourth quarter worth about $1,323,000. Finally, Nordea Investment Management AB raised its stake in Applied Industrial Technologies by 5.0% in the 4th quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company’s stock worth $48,540,000 after purchasing an additional 9,667 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AIT shares. Bank of America raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $285.00 to $315.00 in a report on Tuesday, November 26th. Oppenheimer increased their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Raymond James lifted their price objective 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 raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Loop Capital boosted their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $285.71.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the transaction, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This represents a 6.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total value of $605,176.00. Following the sale, the director now directly owns 3,462 shares in the company, valued at $952,326.96. The trade was a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.67% of the company’s stock.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $253.08 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. Applied Industrial Technologies, Inc. has a 52 week low of $166.37 and a 52 week high of $282.98. The stock has a market capitalization of $9.73 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 3.71 and a beta of 1.08. The stock has a fifty day moving average of $259.84 and a 200-day moving average of $228.23.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned $2.39 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.58%. Applied Industrial Technologies’s dividend 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.