Insider Selling: Applied Industrial Technologies, Inc. (NYSE:AIT) VP Sells $986,659.80 in Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the transaction, the vice president now owns 19,315 shares in the company, valued at $3,922,876.50. The sale was disclosed in a filing with the SEC, which is available through this link.

Applied Industrial Technologies Trading Down 0.9 %

AIT opened at $193.62 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 2.13 and a beta of 1.03. Applied Industrial Technologies, Inc. has a 12 month low of $149.59 and a 12 month high of $223.15. The stock has a fifty day moving average price of $200.57 and a 200-day moving average price of $194.01.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $2.35 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.65 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.48 annualized dividend and a yield of 0.76%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.51%.

Hedge Funds Weigh In On Applied Industrial Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new stake in shares of Applied Industrial Technologies during the 1st quarter valued at $25,000. ICA Group Wealth Management LLC purchased a new stake in Applied Industrial Technologies in the fourth quarter valued at about $26,000. Headlands Technologies LLC acquired a new stake in Applied Industrial Technologies in the second quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Applied Industrial Technologies in the second quarter worth about $32,000. Finally, Quarry LP purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth about $39,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIT. Northcoast Research assumed coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating on the stock. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Raymond James began coverage on Applied Industrial Technologies in a report on Wednesday. They issued an “outperform” rating and a $225.00 price objective for the company. Loop Capital increased their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Robert W. Baird boosted their price target on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $223.00.

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.