Warren E. Hoffner III Sells 4,000 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the transaction, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76. The trade was a 6.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Applied Industrial Technologies Price Performance

NYSE AIT traded down $1.66 on Monday, hitting $273.06. 203,801 shares of the company’s stock were exchanged, compared to its average volume of 285,549. The stock has a 50-day moving average of $243.16 and a 200-day moving average of $214.03. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a 52 week low of $162.19 and a 52 week high of $282.98. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 3.77 and a beta of 1.03.

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

Applied Industrial Technologies Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Applied Industrial Technologies by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,607 shares of the industrial products company’s stock worth $4,467,000 after purchasing an additional 1,461 shares during the last quarter. Tidal Investments LLC raised its position in shares of Applied Industrial Technologies by 7.5% during the first quarter. Tidal Investments LLC now owns 2,114 shares of the industrial products company’s stock worth $418,000 after acquiring an additional 147 shares during the last quarter. Comerica Bank lifted its stake in shares of Applied Industrial Technologies by 9.2% in the first quarter. Comerica Bank now owns 20,973 shares of the industrial products company’s stock worth $4,143,000 after acquiring an additional 1,765 shares during the period. Virtu Financial LLC acquired a new stake in Applied Industrial Technologies during the 1st quarter valued at approximately $231,000. Finally, EverSource Wealth Advisors LLC increased its position in Applied Industrial Technologies by 68.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 305 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 124 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AIT. Oppenheimer increased their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Mizuho began coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target on the stock. Robert W. Baird increased their price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. KeyCorp increased their price target on Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.57.

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.