Applied Industrial Technologies, Inc. (NYSE:AIT) VP Sells $703,561.32 in Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Kurt W. Loring sold 3,366 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Applied Industrial Technologies Stock Down 0.2 %

Shares of Applied Industrial Technologies stock opened at $203.31 on Friday. Applied Industrial Technologies, Inc. has a 12-month low of $149.59 and a 12-month high of $223.15. The stock has a market capitalization of $7.85 billion, a P/E ratio of 21.31, a PEG ratio of 2.03 and a beta of 1.06. The company has a quick ratio of 2.70, a current ratio of 3.77 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $199.62 and a two-hundred day moving average price of $193.53.

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

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.73%. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AIT. Northcoast Research started coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating for the company. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 24th. Loop Capital boosted their target price 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. KeyCorp raised their price target on shares of Applied Industrial Technologies from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $222.50.

Institutional Trading of Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIT. EntryPoint Capital LLC acquired a new position in shares of Applied Industrial Technologies during the first quarter worth approximately $25,000. ICA Group Wealth Management LLC bought a new position in Applied Industrial Technologies during the fourth quarter worth $26,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in Applied Industrial Technologies in the 2nd quarter valued at $32,000. Finally, Quarry LP acquired a new stake in Applied Industrial Technologies in the 2nd quarter worth $39,000. 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.