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 firm’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 sale, the vice president now directly owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Applied Industrial Technologies Stock Performance

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

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

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a 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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in Applied Industrial Technologies in the second quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies in the third quarter valued at $34,000. Opal Wealth Advisors LLC purchased a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $32,000. First Horizon Advisors Inc. grew its stake in shares of Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 88 shares during the period. Finally, UMB Bank n.a. increased its holdings in Applied Industrial Technologies by 68.1% in the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 77 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AIT shares. Robert W. Baird upped their target price 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. StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Mizuho started coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price on the stock. Raymond James upped their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, KeyCorp upped their target price 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. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.