Romano Brothers AND Company Sells 200 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Romano Brothers AND Company lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,160 shares of the industrial products company’s stock after selling 200 shares during the period. Romano Brothers AND Company owned about 0.07% of Applied Industrial Technologies worth $5,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AIT. Hennessy Advisors Inc. increased its position in Applied Industrial Technologies by 18.3% during the 1st quarter. Hennessy Advisors Inc. now owns 185,300 shares of the industrial products company’s stock valued at $36,606,000 after purchasing an additional 28,700 shares during the period. Ausbil Investment Management Ltd lifted its holdings in Applied Industrial Technologies by 15.2% during the first quarter. Ausbil Investment Management Ltd now owns 15,135 shares of the industrial products company’s stock worth $2,957,000 after buying an additional 1,997 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in Applied Industrial Technologies during the 1st quarter valued at $365,000. Banque Cantonale Vaudoise bought a new stake in Applied Industrial Technologies during the 1st quarter valued at $902,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $494,000. 93.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AIT has been the topic of a number of recent research reports. KeyCorp raised their price objective on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Oppenheimer began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $201.00.

Insider Activity

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $196.71, for a total transaction of $127,861.50. Following the sale, the vice president now directly owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Stock Up 0.5 %

NYSE AIT traded up $1.04 during trading on Friday, hitting $194.00. The company’s stock had a trading volume of 441,029 shares, compared to its average volume of 252,121. Applied Industrial Technologies, Inc. has a fifty-two week low of $138.38 and a fifty-two week high of $201.76. The company has a market cap of $7.49 billion, a PE ratio of 20.34, a P/E/G ratio of 2.01 and a beta of 1.08. 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 business’s 50 day simple moving average is $190.50 and its 200-day simple moving average is $185.44.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the company earned $2.38 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, August 15th. Applied Industrial Technologies’s payout ratio is 15.51%.

About Applied Industrial Technologies

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.