1,762 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Acquired by AlphaMark Advisors LLC

AlphaMark Advisors LLC bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,762 shares of the industrial products company’s stock, valued at approximately $348,000.

A number of other large investors have also recently bought and sold shares of AIT. ICA Group Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $26,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Applied Industrial Technologies during the 4th quarter worth $54,000. GAMMA Investing LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $86,000. Consolidated Planning Corp purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at $209,000. Finally, Riverwater Partners LLC acquired a new position in Applied Industrial Technologies in the fourth quarter valued at $212,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Oppenheimer assumed coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target for the company. Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a research note on Monday. They set a “neutral” rating on the stock. Finally, KeyCorp boosted their price objective on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.00.

Insiders Place Their Bets

In other 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 value of $127,861.50. Following the completion of the sale, the vice president now owns 22,960 shares in the company, valued at $4,516,461.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.

Applied Industrial Technologies Stock Down 1.9 %

AIT opened at $190.30 on Tuesday. Applied Industrial Technologies, Inc. has a 1 year low of $138.38 and a 1 year high of $201.76. The firm has a 50 day moving average price of $190.63 and a 200 day moving average price of $185.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77. The company has a market cap of $7.35 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.02 and a beta of 1.06.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. Applied Industrial Technologies’s revenue for the quarter was down 2.8% on a year-over-year basis. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.78%. The ex-dividend date is Thursday, August 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.51%.

Applied Industrial Technologies 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.