Applied Industrial Technologies (NYSE:AIT) Shares Gap Down to $198.92

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) gapped down before the market opened on Thursday . The stock had previously closed at $198.92, but opened at $193.07. Applied Industrial Technologies shares last traded at $193.62, with a volume of 44,444 shares.

Wall Street Analysts Forecast Growth

Separately, Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating on the stock.

Applied Industrial Technologies Stock Up 0.9 %

The company has a market cap of $7.75 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 2.03 and a beta of 1.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70. The firm has a 50-day moving average price of $196.20 and a 200 day moving average price of $191.97.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, August 15th. Applied Industrial Technologies’s payout ratio is 15.51%.

Insider Transactions at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 650 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the completion of the sale, the vice president now directly owns 22,960 shares in the company, valued at $4,516,461.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. EntryPoint Capital LLC acquired a new stake in Applied Industrial Technologies during the first quarter worth about $25,000. ICA Group Wealth Management LLC bought a new stake in Applied Industrial Technologies during the fourth quarter worth $26,000. Headlands Technologies LLC bought a new stake in Applied Industrial Technologies during the second quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at $32,000. Finally, ZRC Wealth Management LLC bought a new position in shares of Applied Industrial Technologies in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.