Applied Industrial Technologies, Inc. (NYSE:AIT) Director Peter C. Wallace Sells 5,000 Shares

Applied Industrial Technologies, Inc. (NYSE:AITGet Rating) Director Peter C. Wallace sold 5,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $108.47, for a total value of $542,350.00. Following the completion of the sale, the director now directly owns 19,357 shares in the company, valued at $2,099,653.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

AIT stock opened at $105.03 on Thursday. The business’s fifty day moving average price is $102.03 and its 200 day moving average price is $100.98. Applied Industrial Technologies, Inc. has a 12-month low of $80.93 and a 12-month high of $111.68. The company has a current ratio of 2.79, a quick ratio of 1.87 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $4.04 billion, a PE ratio of 17.27 and a beta of 1.28.

Applied Industrial Technologies (NYSE:AITGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.23. Applied Industrial Technologies had a net margin of 6.52% and a return on equity of 23.58%. The company had revenue of $980.60 million for the quarter, compared to analyst estimates of $922.46 million. During the same period in the prior year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Research analysts predict that Applied Industrial Technologies, Inc. will post 6.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th will be paid a $0.34 dividend. The ex-dividend date is Friday, May 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.29%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 22.37%.

Several brokerages have issued reports on AIT. Robert W. Baird upped their target price on Applied Industrial Technologies from $115.00 to $123.00 in a report on Friday, January 28th. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating and set a $107.00 price target for the company. in a report on Wednesday, March 30th. Finally, upgraded Applied Industrial Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday.

Several institutional investors have recently bought and sold shares of AIT. Lazard Asset Management LLC acquired a new position in Applied Industrial Technologies during the 4th quarter worth $30,000. CWM LLC purchased a new stake in shares of Applied Industrial Technologies in the 4th quarter valued at approximately $33,000. Rockefeller Capital Management L.P. raised its holdings in shares of Applied Industrial Technologies by 38.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 141 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in Applied Industrial Technologies in the third quarter valued at $74,000. Finally, Gladius Capital Management LP acquired a new stake in Applied Industrial Technologies in the fourth quarter valued at $89,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

About Applied Industrial Technologies (Get Rating)

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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, 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, as well as other related supplies for general operational needs of customers' machinery and equipment.

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