Insider Selling: Applied Industrial Technologies, Inc. (NYSE:AIT) VP Sells 4,000 Shares of Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the sale, the vice president now owns 55,709 shares in the company, valued at approximately $15,689,882.76. The trade was a 6.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Applied Industrial Technologies Trading Down 0.7 %

Shares of Applied Industrial Technologies stock opened at $272.88 on Tuesday. Applied Industrial Technologies, Inc. has a fifty-two week low of $162.19 and a fifty-two week high of $282.98. The business’s fifty day moving average is $244.12 and its two-hundred day moving average is $214.57. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. The firm has a market cap of $10.49 billion, a PE ratio of 27.84, a P/E/G ratio of 3.77 and a beta of 1.03.

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

Applied Industrial Technologies Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on AIT shares. KeyCorp boosted their price objective on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Oppenheimer increased their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Loop Capital lifted their price objective 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. StockNews.com upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Mizuho assumed coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $285.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $278.57.

Hedge Funds Weigh In On Applied Industrial Technologies

Large investors have recently bought and sold shares of the stock. Zurich Insurance Group Ltd FI acquired a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth $84,139,000. Dundas Partners LLP acquired a new stake in Applied Industrial Technologies during the second quarter worth about $46,805,000. Westfield Capital Management Co. LP purchased a new position in shares of Applied Industrial Technologies in the 3rd quarter worth about $32,233,000. Fiera Capital Corp lifted its stake in shares of Applied Industrial Technologies by 456.3% in the 3rd quarter. Fiera Capital Corp now owns 130,895 shares of the industrial products company’s stock valued at $29,207,000 after purchasing an additional 107,365 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth about $213,590,000. Hedge funds and other 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.