Applied Industrial Technologies, Inc. (NYSE:AIT) VP Kurt W. Loring Sells 3,366 Shares

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

Applied Industrial Technologies Trading Down 1.4 %

Shares of Applied Industrial Technologies stock opened at $204.45 on Wednesday. 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 has a fifty day simple moving average of $199.00 and a two-hundred day simple moving average of $193.39. Applied Industrial Technologies, Inc. has a 1 year low of $149.59 and a 1 year high of $223.15. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 2.03 and a beta of 1.06.

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, topping analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $2.35 EPS. Applied Industrial Technologies’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts forecast that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, August 15th. Applied Industrial Technologies’s payout ratio is 15.51%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AIT shares. Northcoast Research started coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating for the company. Loop Capital lifted their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Finally, KeyCorp lifted their price target on Applied Industrial Technologies from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.67.

Institutional Trading of Applied Industrial Technologies

Several hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Applied Industrial Technologies during the 1st quarter worth $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at about $26,000. Headlands Technologies LLC bought a new position in Applied Industrial Technologies during the second quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Applied Industrial Technologies in the 2nd quarter worth about $32,000. Finally, Quarry LP bought a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $39,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.