Insider Selling: Applied Industrial Technologies (NYSE:AIT) CFO Sells $643,441.20 in Stock

Key Points

• Applied Industrial Technologies CFO David Wells sold 1,812 shares for approximately $643,441 at an average price of $355.10, reducing his direct ownership by 5.35% to 32,050 shares.
• AIT reported quarterly earnings of $3.17 per share, exceeding estimates of $2.92, while revenue rose 10.5% year over year to $1.35 billion.
• Analysts remain bullish, with the stock carrying a consensus “Buy” rating and an average price target of $384.29; the company also declared a quarterly dividend of $0.51 per share.

Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report) CFO David Wells sold 1,812 shares of Applied Industrial Technologies stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the transaction, the chief financial officer directly owned 32,050 shares of the company's stock, valued at $11,380,955. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock traded down $6.58 during trading hours on Thursday, hitting $339.61. 180,619 shares of the stock were exchanged, compared to its average volume of 302,310. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The stock has a market capitalization of $12.46 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.85 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12 month low of $238.34 and a 12 month high of $374.80. The business's 50-day moving average is $339.19 and its two-hundred day moving average is $305.46.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.25. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The company's revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Equities research analysts expect that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.51 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.04 annualized dividend and a yield of 0.6%. Applied Industrial Technologies's payout ratio is presently 18.61%.

Analyst Ratings Changes

Several analysts have recently commented on the company. DA Davidson increased their target price on Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Robert W. Baird lifted their price target on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $384.29.

Hedge Funds Weigh In On Applied Industrial Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Compound Planning Inc. raised its holdings in Applied Industrial Technologies by 4.7% during the 4th quarter. Compound Planning Inc. now owns 822 shares of the industrial products company's stock worth $211,000 after purchasing an additional 37 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Applied Industrial Technologies by 7.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company's stock valued at $170,000 after purchasing an additional 45 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company's stock worth $308,000 after buying an additional 50 shares during the period. Focus Partners Wealth grew its position in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock worth $302,000 after buying an additional 58 shares during the period. Finally, Cetera Investment Advisers raised its stake in shares of Applied Industrial Technologies by 0.5% during the fourth quarter. Cetera Investment Advisers now owns 10,900 shares of the industrial products company's stock worth $2,799,000 after buying an additional 58 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.

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