Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company cut its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,330 shares of the industrial products company’s stock after selling 1,074 shares during the period. Romano Brothers AND Company owned approximately 0.09% of Applied Industrial Technologies worth $4,827,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Metropolitan Life Insurance Co NY grew its stake in shares of Applied Industrial Technologies by 3.2% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,351 shares of the industrial products company’s stock valued at $296,000 after buying an additional 72 shares during the period. Csenge Advisory Group grew its stake in shares of Applied Industrial Technologies by 1.6% in the 1st quarter. Csenge Advisory Group now owns 4,740 shares of the industrial products company’s stock valued at $674,000 after buying an additional 76 shares during the period. Captrust Financial Advisors grew its stake in shares of Applied Industrial Technologies by 2.9% in the 2nd quarter. Captrust Financial Advisors now owns 3,404 shares of the industrial products company’s stock valued at $327,000 after buying an additional 97 shares during the period. C M Bidwell & Associates Ltd. grew its stake in shares of Applied Industrial Technologies by 33.1% in the 1st quarter. C M Bidwell & Associates Ltd. now owns 470 shares of the industrial products company’s stock valued at $67,000 after buying an additional 117 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Applied Industrial Technologies by 0.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,387 shares of the industrial products company’s stock valued at $2,065,000 after buying an additional 132 shares during the period. 92.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 30,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $153.67, for a total value of $4,610,100.00. Following the sale, the chief executive officer now directly owns 302,307 shares in the company, valued at approximately $46,455,516.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Neil A. Schrimsher sold 30,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $153.67, for a total value of $4,610,100.00. Following the sale, the chief executive officer now directly owns 302,307 shares in the company, valued at approximately $46,455,516.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 9,889 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $154.16, for a total transaction of $1,524,488.24. Following the completion of the sale, the chief executive officer now owns 292,307 shares in the company, valued at $45,062,047.12. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on AIT shares. Loop Capital increased their price target on shares of Applied Industrial Technologies from $170.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, August 14th. StockNews.com began coverage on shares of Applied Industrial Technologies in a research report on Thursday, August 17th. They set a “buy” rating for the company. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $162.00 to $182.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. Finally, Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $161.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th.

Applied Industrial Technologies Stock Down 0.2 %

AIT stock traded down $0.26 during midday trading on Tuesday, hitting $155.58. The company’s stock had a trading volume of 28,125 shares, compared to its average volume of 206,491. The company has a quick ratio of 2.12, a current ratio of 3.05 and a debt-to-equity ratio of 0.41. Applied Industrial Technologies, Inc. has a 52-week low of $96.43 and a 52-week high of $162.67. The firm has a market capitalization of $6.03 billion, a P/E ratio of 17.63 and a beta of 1.20. The firm has a 50-day simple moving average of $149.78 and a 200-day simple moving average of $140.18.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, August 10th. The industrial products company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.17 by $0.18. Applied Industrial Technologies had a net margin of 7.86% and a return on equity of 25.62%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company posted $2.02 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.02 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.40 annualized dividend and a yield of 0.90%. Applied Industrial Technologies’s dividend payout ratio is presently 15.84%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. 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, automation solutions, 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, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.