Duality Advisers LP Purchases 392 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Duality Advisers LP increased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,251 shares of the industrial products company’s stock after purchasing an additional 392 shares during the quarter. Duality Advisers LP’s holdings in Applied Industrial Technologies were worth $561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AIT. Huntington National Bank raised its holdings in shares of Applied Industrial Technologies by 963.2% in the 3rd quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 183 shares during the period. NBC Securities Inc. bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at about $40,000. Legacy Financial Group LLC bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at about $52,000. McGlone Suttner Wealth Management Inc. bought a new position in Applied Industrial Technologies in the 4th quarter valued at about $54,000. Finally, Fifth Third Bancorp raised its holdings in Applied Industrial Technologies by 580.1% in the 3rd quarter. Fifth Third Bancorp now owns 1,367 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 1,166 shares during the period. 93.52% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Warren E. Hoffner III sold 2,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the transaction, the vice president now directly owns 57,155 shares in the company, valued at $10,421,642.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Price Performance

AIT stock opened at $178.79 on Friday. Applied Industrial Technologies, Inc. has a 52-week low of $122.24 and a 52-week high of $201.76. The company has a fifty day moving average price of $190.03 and a 200-day moving average price of $175.31. The company has a market capitalization of $6.91 billion, a P/E ratio of 18.76, a PEG ratio of 1.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $2.05 earnings per share. As a group, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on AIT. Oppenheimer began coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target on the stock. KeyCorp increased their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Buy” and an average price target of $201.00.

Applied Industrial Technologies Company 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.