Insider Selling: Applied Industrial Technologies, Inc. (NYSE:AIT) VP Sells $127,861.50 in Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Jason W. Vasquez sold 650 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the completion of the transaction, the vice president now owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The sale was disclosed in a document filed with the SEC, which is available through this link.

Applied Industrial Technologies Trading Down 1.8 %

Shares of AIT stock opened at $195.55 on Friday. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. The stock has a market cap of $7.55 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 2.09 and a beta of 1.10. The stock has a 50 day simple moving average of $192.27 and a 200 day simple moving average of $180.32. Applied Industrial Technologies, Inc. has a 1 year low of $122.24 and a 1 year high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.38 earnings per share. On average, research analysts predict that Applied Industrial Technologies, Inc. will post 9.62 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, May 14th. Applied Industrial Technologies’s payout ratio is presently 15.51%.

Institutional Investors Weigh In On Applied Industrial Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies during the first quarter worth $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies during the fourth quarter worth $26,000. Huntington National Bank increased its holdings in Applied Industrial Technologies by 963.2% in the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 183 shares during the period. NBC Securities Inc. acquired a new stake in Applied Industrial Technologies in the third quarter valued at $40,000. Finally, ZRC Wealth Management LLC acquired a new stake in Applied Industrial Technologies in the first quarter valued at $42,000. 93.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AIT shares. Oppenheimer assumed coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price objective for the company. KeyCorp boosted their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $201.00.

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.