Applied Industrial Technologies (NYSE:AIT) Director L Thomas Hiltz sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $54.43, for a total value of $272,150.00. Following the completion of the sale, the director now directly owns 14,618 shares in the company, valued at $795,657.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Applied Industrial Technologies (NYSE:AIT) opened at 56.45 on Wednesday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 67.60 and a beta of 0.85. Applied Industrial Technologies has a 52 week low of $35.55 and a 52 week high of $56.65. The stock’s 50 day moving average price is $47.64 and its 200-day moving average price is $46.38.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, November 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.98%. Applied Industrial Technologies’s dividend payout ratio is presently 134.94%.

Several hedge funds and other institutional investors have recently modified their holdings of AIT. Wellington Management Group LLP raised its stake in Applied Industrial Technologies by 59.6% in the first quarter. Wellington Management Group LLP now owns 1,257,445 shares of the company’s stock worth $54,573,000 after buying an additional 469,779 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in Applied Industrial Technologies during the second quarter worth about $917,000. BlackRock Institutional Trust Company N.A. raised its stake in Applied Industrial Technologies by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 979,493 shares of the company’s stock worth $42,510,000 after buying an additional 12,883 shares during the last quarter. BlackRock Group LTD raised its stake in Applied Industrial Technologies by 6.6% in the first quarter. BlackRock Group LTD now owns 48,625 shares of the company’s stock worth $2,110,000 after buying an additional 3,004 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Applied Industrial Technologies by 92.4% in the second quarter. BNP Paribas Arbitrage SA now owns 13,220 shares of the company’s stock worth $597,000 after buying an additional 6,349 shares during the last quarter. 90.22% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. Zacks Investment Research raised Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Thursday, October 27th. TheStreet lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Applied Industrial Technologies in a research note on Sunday, September 4th.

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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