Applied Industrial Technologies Director Sells $701,419 in Stock (AIT)
Applied Industrial Technologies (NYSE:AIT) Director Green Edith Kelly sold 14,242 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $49.25, for a total transaction of $701,418.50. Following the sale, the director now directly owns 21,631 shares in the company, valued at approximately $1,065,327. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Applied Industrial Technologies (NYSE:AIT) traded down 0.85% during mid-day trading on Thursday, hitting $48.77. The stock had a trading volume of 200,427 shares. Applied Industrial Technologies has a 52 week low of $45.62 and a 52 week high of $53.45. The stock has a 50-day moving average of $49.24 and a 200-day moving average of $49.01. The company has a market cap of $2.024 billion and a price-to-earnings ratio of 18.42.
Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.04. The company had revenue of $654.60 million for the quarter, compared to the consensus estimate of $661.80 million. On average, analysts predict that Applied Industrial Technologies will post $3.11 EPS for the current fiscal year.
A number of research firms have recently commented on AIT. Analysts at Citigroup Inc. upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Monday, July 7th. Separately, analysts at BB&T Corp. upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Monday, July 7th. They now have a $64.00 price target on the stock. Finally, analysts at Sidoti upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, June 23rd.
Applied Industrial Technologies, Inc (NYSE:AIT) is an industrial distributor in North America, supplying customers in a range of industries with products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and general maintenance and mill supply products.
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