Applied Industrial Technologies Inc. (NYSE:AIT) VP Fred D. Bauer sold 4,232 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $53.95, for a total value of $228,316.40. Following the sale, the vice president now owns 99,356 shares of the company’s stock, valued at approximately $5,360,256.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Applied Industrial Technologies Inc. (NYSE:AIT) opened at 56.05 on Tuesday. The stock has a 50 day moving average of $47.64 and a 200-day moving average of $46.38. Applied Industrial Technologies Inc. has a 1-year low of $35.55 and a 1-year high of $55.08. The firm has a market capitalization of $2.19 billion, a P/E ratio of 67.13 and a beta of 0.85.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The business earned $624.80 million during the quarter, compared to analyst estimates of $625.57 million. Applied Industrial Technologies had a net margin of 1.30% and a return on equity of 15.18%. Applied Industrial Technologies’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. On average, equities research analysts anticipate that Applied Industrial Technologies Inc. will post $2.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Thursday, November 10th. Applied Industrial Technologies’s dividend payout ratio is currently 134.94%.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Applied Industrial Technologies by 1.5% in the second quarter. Vanguard Group Inc. now owns 3,012,124 shares of the company’s stock worth $135,967,000 after buying an additional 45,947 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Applied Industrial Technologies by 8.0% in the third quarter. BlackRock Fund Advisors now owns 2,721,991 shares of the company’s stock worth $127,226,000 after buying an additional 200,470 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Applied Industrial Technologies by 14.3% in the third quarter. JPMorgan Chase & Co. now owns 1,644,123 shares of the company’s stock worth $76,846,000 after buying an additional 206,132 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Applied Industrial Technologies by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,465,834 shares of the company’s stock worth $66,166,000 after buying an additional 23,637 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Applied Industrial Technologies by 4.8% in the third quarter. Victory Capital Management Inc. now owns 1,361,689 shares of the company’s stock worth $63,645,000 after buying an additional 62,562 shares in the last quarter. 90.22% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a report on Thursday, October 27th. TheStreet lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Applied Industrial Technologies in a report on Sunday, September 4th.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies Inc is a distributor and supplier of industrial products. The Company’s industry products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and other industrial and maintenance supplies.

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