Posted by admin on May 19th, 2022
Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) CEO Neil A. Schrimsher sold 13,488 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $108.20, for a total value of $1,459,401.60. Following the transaction, the chief executive officer now owns 274,213 shares of the company’s stock, valued at $29,669,846.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
NYSE:AIT traded down $1.41 during midday trading on Thursday, hitting $103.62. 1,165 shares of the company traded hands, compared to its average volume of 206,288. The firm’s fifty day moving average is $102.03 and its 200-day moving average is $100.98. Applied Industrial Technologies, Inc. has a 12-month low of $80.93 and a 12-month high of $111.68. The firm has a market capitalization of $3.98 billion, a P/E ratio of 17.27 and a beta of 1.28. The company has a current ratio of 2.79, a quick ratio of 1.87 and a debt-to-equity ratio of 0.62.
Applied Industrial Technologies (NYSE:AIT – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The industrial products company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.52 by $0.23. The company had revenue of $980.60 million for the quarter, compared to the consensus estimate of $922.46 million. Applied Industrial Technologies had a return on equity of 23.58% and a net margin of 6.52%. Applied Industrial Technologies’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 6.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Monday, May 16th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, May 13th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 22.37%.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Applied Industrial Technologies by 7.0% during the 1st quarter. BlackRock Inc. now owns 7,001,286 shares of the industrial products company’s stock worth $718,751,000 after buying an additional 459,302 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Applied Industrial Technologies by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,632,164 shares of the industrial products company’s stock worth $475,538,000 after buying an additional 37,140 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Applied Industrial Technologies by 19.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,611,855 shares of the industrial products company’s stock worth $370,938,000 after buying an additional 595,738 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Applied Industrial Technologies by 0.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,542,410 shares of the industrial products company’s stock worth $158,344,000 after buying an additional 8,567 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Applied Industrial Technologies by 19.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,361,855 shares of the industrial products company’s stock worth $122,744,000 after buying an additional 218,176 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Applied Industrial Technologies from $115.00 to $123.00 in a research note on Friday, January 28th. StockNews.com raised Applied Industrial Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday. Finally, Zacks Investment Research cut Applied Industrial Technologies from a “buy” rating to a “hold” rating and set a $107.00 price target on the stock. in a report on Wednesday, March 30th.
About Applied Industrial Technologies (Get Rating)
Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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, 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, as well as other related supplies for general operational needs of customers' machinery and equipment.
Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
Dynatrace (NYSE:DT) Posts Earnings Results, Beats Expectations By $0.02 EPS
Spirent Communications plc (LON:SPT) Insider Sells £264,137.50 in Stock