OneAscent Financial Services LLC Has $222,000 Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

OneAscent Financial Services LLC decreased its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 31.1% during the third quarter, Holdings Channel.com reports. The firm owned 997 shares of the industrial products company’s stock after selling 450 shares during the period. OneAscent Financial Services LLC’s holdings in Applied Industrial Technologies were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AIT. EntryPoint Capital LLC purchased a new position in Applied Industrial Technologies during the first quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $32,000. V Square Quantitative Management LLC acquired a new position in shares of Applied Industrial Technologies in the third quarter worth $34,000. Finally, Quarry LP purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth $39,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Applied Industrial Technologies

In related 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 sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. This trade represents a 14.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.67% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Mizuho initiated coverage on Applied Industrial Technologies in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 target price on the stock. Raymond James increased their price objective on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Loop Capital increased their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Robert W. Baird lifted their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $267.86.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $266.28 on Wednesday. The firm has a market capitalization of $10.24 billion, a PE ratio of 27.17, a PEG ratio of 3.66 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 1 year low of $155.47 and a 1 year high of $276.97. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The firm’s fifty day simple moving average is $231.56 and its 200 day simple moving average is $209.01.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $2.39 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.56%. Applied Industrial Technologies’s dividend payout ratio is 15.10%.

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.