Applied Industrial Technologies, Inc. (NYSE:AIT) Director Sells $605,176.00 in Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the transaction, the director now directly owns 3,462 shares in the company, valued at approximately $952,326.96. This represents a 38.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT traded down $1.81 during midday trading on Monday, reaching $272.91. The company’s stock had a trading volume of 298,514 shares, compared to its average volume of 285,842. The business’s fifty day simple moving average is $243.16 and its 200-day simple moving average is $214.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. Applied Industrial Technologies, Inc. has a fifty-two week low of $162.19 and a fifty-two week high of $282.98. The company has a market capitalization of $10.49 billion, a P/E ratio of 27.94, a P/E/G ratio of 3.77 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company posted $2.39 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.54%. Applied Industrial Technologies’s payout ratio is 15.10%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $285.00 to $315.00 in a research report on Tuesday, November 26th. KeyCorp raised their price objective on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Oppenheimer upped their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. 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 report on Monday, October 28th. Finally, StockNews.com upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $278.57.

Institutional Investors Weigh In On Applied Industrial Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in AIT. Franklin Resources Inc. raised its position in shares of Applied Industrial Technologies by 14.3% during the 3rd quarter. Franklin Resources Inc. now owns 233,655 shares of the industrial products company’s stock valued at $53,238,000 after acquiring an additional 29,288 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Applied Industrial Technologies by 24.9% in the third quarter. TD Private Client Wealth LLC now owns 1,017 shares of the industrial products company’s stock valued at $227,000 after purchasing an additional 203 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in Applied Industrial Technologies by 3.7% in the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 68 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Applied Industrial Technologies by 4.1% during the third quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company’s stock worth $232,181,000 after buying an additional 40,689 shares during the last quarter. Finally, Vestcor Inc boosted its holdings in Applied Industrial Technologies by 105.5% during the third quarter. Vestcor Inc now owns 7,750 shares of the industrial products company’s stock worth $1,729,000 after buying an additional 3,979 shares during the last quarter. Institutional investors 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.