Insider Selling: Applied Industrial Technologies (AIT) VP Sells 3,800 Shares of Stock

Applied Industrial Technologies (NYSE:AIT) VP Todd A. Barlett sold 3,800 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $75.00, for a total transaction of $285,000.00. Following the transaction, the vice president now directly owns 90,155 shares in the company, valued at approximately $6,761,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Applied Industrial Technologies (AIT) opened at $74.20 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.90 and a current ratio of 3.33. Applied Industrial Technologies has a 12-month low of $54.00 and a 12-month high of $75.35. The company has a market cap of $2,869.66, a PE ratio of 23.48, a PEG ratio of 1.79 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. Applied Industrial Technologies had a net margin of 5.43% and a return on equity of 16.53%. The business had revenue of $667.19 million for the quarter, compared to analysts’ expectations of $651.05 million. research analysts forecast that Applied Industrial Technologies will post 3.46 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 15th will be paid a dividend of $0.30 per share. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 14th. This represents a $1.20 annualized dividend and a yield of 1.62%. Applied Industrial Technologies’s dividend payout ratio is 31.02%.

Several equities analysts have recently commented on AIT shares. ValuEngine cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Tuesday, January 23rd. Finally, Wellington Shields raised shares of Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $71.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Applied Industrial Technologies by 4.8% during the second quarter. Vanguard Group Inc. now owns 3,662,402 shares of the industrial products company’s stock worth $216,264,000 after acquiring an additional 166,858 shares during the period. Dimensional Fund Advisors LP raised its stake in Applied Industrial Technologies by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,178,032 shares of the industrial products company’s stock worth $77,513,000 after acquiring an additional 68,270 shares during the period. State Street Corp raised its stake in Applied Industrial Technologies by 11.2% during the second quarter. State Street Corp now owns 1,003,427 shares of the industrial products company’s stock worth $59,253,000 after acquiring an additional 101,228 shares during the period. Victory Capital Management Inc. raised its stake in Applied Industrial Technologies by 6.2% during the third quarter. Victory Capital Management Inc. now owns 984,997 shares of the industrial products company’s stock worth $64,813,000 after acquiring an additional 57,789 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Applied Industrial Technologies by 0.5% during the third quarter. Principal Financial Group Inc. now owns 721,325 shares of the industrial products company’s stock worth $47,462,000 after acquiring an additional 3,508 shares during the period. Hedge funds and other institutional investors own 88.41% of the company’s stock.

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About Applied Industrial Technologies

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

Insider Buying and Selling by Quarter for Applied Industrial Technologies (NYSE:AIT)

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