Boston Trust Walden Corp Sells 54,960 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Boston Trust Walden Corp lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 8.7% during the third quarter, HoldingsChannel.com reports. The fund owned 575,955 shares of the industrial products company’s stock after selling 54,960 shares during the quarter. Applied Industrial Technologies accounts for about 0.9% of Boston Trust Walden Corp’s holdings, making the stock its 21st biggest position. Boston Trust Walden Corp’s holdings in Applied Industrial Technologies were worth $128,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies in the first quarter worth approximately $25,000. Headlands Technologies LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in Applied Industrial Technologies in the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC bought a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $34,000. Finally, Quarry LP purchased a new stake in shares of Applied Industrial Technologies in the second quarter worth approximately $39,000. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Price Performance

Shares of AIT stock traded down $0.67 during trading hours on Friday, reaching $231.30. The stock had a trading volume of 302,580 shares, compared to its average volume of 289,076. The stock’s fifty day simple moving average is $214.79 and its 200 day simple moving average is $201.14. The firm has a market capitalization of $8.93 billion, a PE ratio of 24.25, a PEG ratio of 3.12 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 12 month low of $149.59 and a 12 month high of $240.45. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $2.39 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.69 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.37 dividend. 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 15.51%.

Insider Transactions at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the transaction, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction that occurred 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 directly owns 19,315 shares in the company, valued at $4,037,221.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,927 shares of company stock valued at $2,439,116. 2.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AIT shares. Loop Capital upped their price target on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Oppenheimer lifted their price objective on Applied Industrial Technologies from $235.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday. Robert W. Baird increased their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, KeyCorp upped their price target 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and an average price target of $255.71.

About Applied Industrial Technologies

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.