Applied Industrial Technologies (NYSE:AIT – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.
Separately, Northcoast Research began coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating on the stock.
Read Our Latest Stock Report on AIT
Applied Industrial Technologies Stock Performance
Insider Buying and Selling at Applied Industrial Technologies
In other news, VP Jason W. Vasquez sold 650 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $196.71, for a total transaction of $127,861.50. Following the completion of the sale, the vice president now directly owns 22,960 shares in the company, valued at $4,516,461.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Applied Industrial Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in Applied Industrial Technologies during the first quarter valued at approximately $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $26,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies in the second quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $32,000. Finally, ZRC Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies in the 1st quarter worth about $42,000. Institutional investors own 93.52% of the company’s stock.
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.
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