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 business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $75.00, for a total value of $285,000.00. Following the sale, the vice president now owns 90,155 shares in the company, valued at approximately $6,761,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Applied Industrial Technologies (NYSE:AIT) opened at $70.10 on Thursday. Applied Industrial Technologies has a 52 week low of $54.00 and a 52 week high of $75.35. The firm has a market capitalization of $2,678.22, a PE ratio of 18.74, a PEG ratio of 1.67 and a beta of 0.96. The company has a current ratio of 3.33, a quick ratio of 1.90 and a debt-to-equity ratio of 0.39.
Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. Applied Industrial Technologies had a return on equity of 16.53% and a net margin of 5.43%. The business had revenue of $667.19 million for the quarter, compared to analyst estimates of $651.05 million. research analysts forecast that Applied Industrial Technologies will post 3.46 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Wellington Shields upgraded Applied Industrial Technologies to a “hold” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $71.00.
Several hedge funds have recently modified their holdings of AIT. Koch Industries Inc. grew its stake in shares of Applied Industrial Technologies by 8,147.3% during the second quarter. Koch Industries Inc. now owns 297,728 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 294,118 shares during the last quarter. Vanguard Group Inc. boosted its position in Applied Industrial Technologies by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,662,402 shares of the industrial products company’s stock valued at $216,264,000 after buying an additional 166,858 shares during the last quarter. American Century Companies Inc. boosted its position in Applied Industrial Technologies by 248.4% in the third quarter. American Century Companies Inc. now owns 182,063 shares of the industrial products company’s stock valued at $11,980,000 after buying an additional 129,799 shares during the last quarter. Wells Fargo & Company MN boosted its position in Applied Industrial Technologies by 45.3% in the third quarter. Wells Fargo & Company MN now owns 369,137 shares of the industrial products company’s stock valued at $24,288,000 after buying an additional 115,166 shares during the last quarter. Finally, State Street Corp boosted its position in Applied Industrial Technologies by 11.2% in the second quarter. State Street Corp now owns 1,003,427 shares of the industrial products company’s stock valued at $59,253,000 after buying an additional 101,228 shares during the last quarter. Institutional investors and hedge funds own 88.41% of the company’s stock.
Applied Industrial Technologies Company Profile
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.
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