Insider Selling: Applied Industrial Technologies, Inc. (NYSE:AIT) CEO Sells 3,703 Shares of Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock traded up $5.06 on Wednesday, reaching $204.52. 266,072 shares of the company traded hands, compared to its average volume of 303,502. Applied Industrial Technologies, Inc. has a 52 week low of $146.32 and a 52 week high of $223.15. The company has a 50 day moving average of $197.22 and a 200 day moving average of $192.60. The firm has a market capitalization of $7.90 billion, a PE ratio of 20.92, a PEG 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.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the firm earned $2.35 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, August 15th. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AIT shares. KeyCorp upped their price objective on shares of Applied Industrial Technologies from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Loop Capital upped their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Northcoast Research started coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $226.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Applied Industrial Technologies by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock valued at $875,912,000 after acquiring an additional 14,858 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Applied Industrial Technologies by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock valued at $163,575,000 after buying an additional 21,276 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Applied Industrial Technologies by 1.2% during the 2nd quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock valued at $122,398,000 after buying an additional 7,720 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Applied Industrial Technologies by 978.3% during the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock valued at $96,646,000 after buying an additional 507,750 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Applied Industrial Technologies by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 559,037 shares of the industrial products company’s stock valued at $96,540,000 after buying an additional 11,092 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

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.