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 the business’s stock in a transaction 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 of the company’s stock, valued at $952,326.96. This trade represents a 38.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Applied Industrial Technologies Stock Performance

AIT stock traded down $1.81 during trading hours on Monday, reaching $272.91. The stock had a trading volume of 298,514 shares, compared to its average volume of 285,842. 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 debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The stock has a market capitalization of $10.49 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 3.77 and a beta of 1.03. The stock has a 50-day simple moving average of $243.16 and a 200 day simple moving average of $214.03.

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

Applied Industrial Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Loop Capital raised their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. KeyCorp lifted their price target on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Raymond James boosted their price objective on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Robert W. Baird lifted their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $278.57.

Institutional Trading of Applied Industrial Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Applied Industrial Technologies during the second quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $34,000. First Horizon Advisors Inc. increased its holdings in shares of Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 88 shares during the period. Finally, Quarry LP acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at approximately $39,000. 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.