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Applied Industrial Technologies, Inc. (NYSE:AIT - Get Rating) Director Vincent K. Petrella sold 3,114 shares of the firm's stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $114.76, for a total transaction of $357,362.64. Following the sale, the director now directly owns 18,666 shares in the company, valued at approximately $2,142,110.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock traded down $2.27 during trading on Friday, reaching $112.84. The company had a trading volume of 129,288 shares, compared to its average volume of 174,323. The firm's 50-day simple moving average is $98.10 and its 200 day simple moving average is $100.06. Applied Industrial Technologies, Inc. has a 1-year low of $80.93 and a 1-year high of $121.20. The firm has a market capitalization of $4.34 billion, a PE ratio of 17.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 2.72.

Applied Industrial Technologies (NYSE:AIT - Get Rating) last released its quarterly earnings results on Thursday, August 11th. The industrial products company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.36. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $977.43 million. Applied Industrial Technologies had a net margin of 6.76% and a return on equity of 24.25%. The firm's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.51 EPS. As a group, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 7.3 earnings per share for the current fiscal year. Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, August 12th. Applied Industrial Technologies's dividend payout ratio is currently 20.64%. Hedge Funds Weigh In On Applied Industrial Technologies

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Applied Industrial Technologies in the 4th quarter valued at about $30,000. CWM LLC acquired a new position in Applied Industrial Technologies in the 4th quarter valued at about $33,000. Rockefeller Capital Management L.P. grew its position in Applied Industrial Technologies by 38.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 141 shares in the last quarter. Pinebridge Investments L.P. grew its position in Applied Industrial Technologies by 452.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 552 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 452 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Applied Industrial Technologies by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 735 shares of the industrial products company's stock worth $71,000 after buying an additional 544 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds. Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. KeyCorp raised their price objective on shares of Applied Industrial Technologies from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, August 12th. StockNews.com raised shares of Applied Industrial Technologies from a "buy" rating to a "strong-buy" rating in a research note on Thursday, August 11th. Finally, Robert W. Baird cut shares of Applied Industrial Technologies from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $115.00 to $129.00 in a research note on Friday, August 12th.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.Further ReadingGet a free copy of the StockNews.com research report on Applied Industrial Technologies (AIT)Near-Term Headwinds Present An Opportunity In Ross StoresApple’s Stock Could Be On The Verge Of Another 30% RallyIf You Hate Speed Cameras, Then You’ll Like Verra Mobility Stock Is Sanofi A Buy, Despite Recent Stumbles? Institutional Support For TJX Companies May Cap Gains

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