Shelton Capital Management purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,873 shares of the industrial products company’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also modified their holdings of AIT. BlackRock Inc. boosted its holdings in shares of Applied Industrial Technologies by 84,093.2% in the 1st quarter. BlackRock Inc. now owns 5,566,855 shares of the industrial products company’s stock valued at $344,310,000 after buying an additional 5,560,243 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Applied Industrial Technologies by 51.0% in the 2nd quarter. Principal Financial Group Inc. now owns 717,817 shares of the industrial products company’s stock valued at $42,387,000 after buying an additional 242,556 shares during the last quarter. AJO LP acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at approximately $11,749,000. Vanguard Group Inc. boosted its holdings in shares of Applied Industrial Technologies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 3,495,544 shares of the industrial products company’s stock valued at $216,199,000 after buying an additional 174,201 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Applied Industrial Technologies by 80.2% in the 1st quarter. Bank of America Corp DE now owns 316,347 shares of the industrial products company’s stock valued at $19,566,000 after buying an additional 140,779 shares during the last quarter. 87.54% of the stock is owned by institutional investors.

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) opened at 65.10 on Thursday. Applied Industrial Technologies, Inc. has a 12-month low of $43.50 and a 12-month high of $69.00. The stock has a 50 day moving average price of $61.94 and a 200 day moving average price of $60.12. The firm has a market cap of $2.54 billion, a P/E ratio of 19.15 and a beta of 0.95.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.56. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The business had revenue of $681.47 million during the quarter, compared to the consensus estimate of $680.20 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. Applied Industrial Technologies’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post $3.10 earnings per share for the current year.

Several equities research analysts have recently commented on AIT shares. Zacks Investment Research downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. ValuEngine raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, BidaskClub downgraded Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $66.00.

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In related news, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $56.11, for a total transaction of $336,660.00. Following the completion of the sale, the vice president now owns 153,029 shares in the company, valued at $8,586,457.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mark O. Eisele sold 11,854 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $55.76, for a total value of $660,979.04. Following the sale, the vice president now owns 147,029 shares of the company’s stock, valued at approximately $8,198,337.04. The disclosure for this sale can be found here. Insiders have sold 73,571 shares of company stock valued at $4,070,841 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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

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