Applied Industrial Technologies (NYSE:AIT) Shares Acquired by Zeke Capital Advisors LLC

Zeke Capital Advisors LLC increased its position in Applied Industrial Technologies (NYSE:AIT) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,422 shares of the industrial products company’s stock after acquiring an additional 543 shares during the period. Zeke Capital Advisors LLC’s holdings in Applied Industrial Technologies were worth $1,028,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AIT. BlackRock Inc. boosted its position in shares of Applied Industrial Technologies by 0.6% during the 2nd quarter. BlackRock Inc. now owns 6,629,016 shares of the industrial products company’s stock valued at $407,882,000 after purchasing an additional 39,181 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Applied Industrial Technologies by 7.7% in the second quarter. Victory Capital Management Inc. now owns 1,132,627 shares of the industrial products company’s stock worth $69,691,000 after buying an additional 80,694 shares during the period. Northern Trust Corp boosted its holdings in shares of Applied Industrial Technologies by 1.1% in the second quarter. Northern Trust Corp now owns 601,717 shares of the industrial products company’s stock worth $37,024,000 after buying an additional 6,672 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Applied Industrial Technologies in the second quarter worth about $29,937,000. Finally, Boston Trust Walden Corp boosted its holdings in shares of Applied Industrial Technologies by 2.7% in the fourth quarter. Boston Trust Walden Corp now owns 477,530 shares of the industrial products company’s stock worth $31,847,000 after buying an additional 12,683 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Shares of AIT opened at $67.48 on Friday. The company has a 50-day moving average of $65.97 and a two-hundred day moving average of $59.57. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.39 and a quick ratio of 1.42. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 16.22 and a beta of 1.37. Applied Industrial Technologies has a one year low of $49.45 and a one year high of $68.44.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $856.40 million during the quarter, compared to analyst estimates of $850.45 million. Applied Industrial Technologies had a net margin of 3.86% and a return on equity of 18.22%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. Analysts anticipate that Applied Industrial Technologies will post 4.37 earnings per share for the current year.

Several research analysts have commented on the stock. Wells Fargo & Co upgraded shares of Applied Industrial Technologies from an “equal weight” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Tuesday, January 14th. ValuEngine upgraded shares of Applied Industrial Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 14th. Zacks Investment Research cut shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating and set a $65.00 target price for the company. in a report on Friday, November 15th. Robert W. Baird assumed coverage on shares of Applied Industrial Technologies in a report on Thursday, December 12th. They issued a “buy” rating and a $81.00 target price for the company. Finally, KeyCorp reiterated an “overweight” rating and issued a $75.00 target price (up from $70.00) on shares of Applied Industrial Technologies in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Applied Industrial Technologies has an average rating of “Hold” and an average target price of $73.67.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

Further Reading: Growth Stocks

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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