Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by Stonegate Investment Group LLC

Stonegate Investment Group LLC increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 160.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,909 shares of the industrial products company’s stock after acquiring an additional 2,409 shares during the period. Stonegate Investment Group LLC’s holdings in Applied Industrial Technologies were worth $936,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AIT. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth $34,000. First Horizon Advisors Inc. increased its stake in Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 88 shares in the last quarter. Quarry LP purchased a new position in Applied Industrial Technologies in the 2nd quarter worth about $39,000. UMB Bank n.a. raised its holdings in Applied Industrial Technologies by 68.1% during the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after buying an additional 77 shares during the period. Finally, Millburn Ridgefield Corp purchased a new stake in Applied Industrial Technologies during the third quarter valued at about $84,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $251.20 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The stock has a market capitalization of $9.66 billion, a P/E ratio of 25.63, a P/E/G ratio of 3.59 and a beta of 1.08. The business has a 50-day moving average of $257.71 and a two-hundred day moving average of $232.80. Applied Industrial Technologies, Inc. has a fifty-two week low of $176.32 and a fifty-two week high of $282.98.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AIT shares. Raymond James lifted their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Mizuho initiated coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price on the stock. KeyCorp increased their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Robert W. Baird lifted their price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.71.

Insider Buying and Selling

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 shares were sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76. This represents a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the transaction, the director now 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. Corporate insiders own 1.67% of the company’s stock.

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.