Kurt W. Loring Cashes Out 5470 Shares of Applied Industrial Technologies, Stock
December 10, 2023
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Kurt W. Loring recently cashed out 5470 shares of Applied Industrial Technologies ($NYSE:AIT), Inc. (AIT) stock. AIT is a leading industrial distributor of bearings, power transmission, fluid power, automation, industrial products, and related services. It serves thousands of customers in various industries, ranging from automotive to energy and from food & beverage to aerospace. The company’s services include fleet maintenance solutions, such as training and asset management offerings; engineering services; and lubrication management solutions. Additionally, it provides rotating equipment repair services, which include the repair and reconditioning of electric motors, pumps, gearboxes, and hydraulic cylinders.
In addition, it offers safety products, including personal protective equipment, such as gloves, safety glasses, and hearing protection; ergonomic products; and lockout/tagout products.
Market Price
On Monday, Applied Industrial Technologies, Inc. stock opened at $163.6 and closed at $162.7, a decrease of 0.3% from its previous closing price of 163.1. This decrease was likely due to the announcement that Kurt W. Loring, the company’s President and Chief Operating Officer, had cashed out 5470 shares of Applied Industrial Technologies stock. While it is unclear why Loring chose to cash out his shares, it may be an indication that he believes the stock price will not increase in the near future.
Given that Applied Industrial Technologies has seen significant growth in recent years, this could be a cause for concern for investors. It is important to keep in mind, however, that the cashing out of 5470 shares is only a small portion of Loring’s total stake in the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for AIT. More…
| Total Revenues | Net Income | Net Margin |
| 4.45k | 363.69 | 8.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for AIT. More…
| Operations | Investing | Financing |
| 384.23 | -80.99 | -93.85 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for AIT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.75k | 1.21k | 39.63 |
Key Ratios Snapshot
Some of the financial key ratios for AIT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.3% | 32.1% | 11.0% |
| FCF Margin | ROE | ROA |
| 8.1% | 20.4% | 11.1% |
Analysis
Using our Star Chart, we have classified APPLIED INDUSTRIAL TECHNOLOGIES as a ‘gorilla’, which is a type of company that has achieved strong and sustainable revenue or earnings growth due to its competitive advantage. Given this information, investors interested in long-term investments may find APPLIED INDUSTRIAL TECHNOLOGIES to be an attractive option. Furthermore, the company has a high health score of 10/10 when it comes to cash flows and debt, which means it is capable of sustaining future operations, even in times of crisis. More…
Peers
Applied Industrial Technologies Inc is in competition with Wajax Corp, Ohashi Technica Inc, and TAT Technologies Ltd. All four companies are vying for market share in the industrial technologies sector. Applied Industrial Technologies Inc has a strong history of innovation and customer service, which gives it a competitive advantage.
– Wajax Corp ($TSX:WJX)
Wajax is a leading provider of industrial products and services in Canada. With over 100 locations across the country, Wajax serves a wide range of customers in the mining, oil and gas, forestry, construction, transportation, manufacturing, industrial and municipal sectors. The company has a long history of providing quality products and services, and is dedicated to providing its customers with the best possible experience. Wajax has a market cap of 378.35M as of 2022, and a Return on Equity of 15.27%.
– Ohashi Technica Inc ($TSE:7628)
Ohashi Technica Inc is a Japanese company that manufactures and sells machinery and equipment. It has a market capitalization of 18.92 billion as of 2022 and a return on equity of 4.44%. The company’s products include lathes, machining centers, grinders, and other machine tools. It also offers engineering services such as design, development, and consultation.
– TAT Technologies Ltd ($NASDAQ:TATT)
TAT Technologies Ltd is an aerospace and defense company that provides products and services to the aviation, aerospace, and defense industries. The company has a market cap of $56.27 million and a return on equity of -3.57%. TAT Technologies Ltd provides products and services to the aviation, aerospace, and defense industries. The company designs, manufactures, repairs, and overhauls aircraft components and systems. It also provides engineering, technical, and aftermarket services.
Summary
Applied Industrial Technologies, Inc. (AIT) has recently seen a significant sale of stock by its director, Kurt W. Loring. This follows an upward trend in the company’s stock performance over the past year. Analysts are encouraged by Applied Industrial Technologies’ solid financials and diversified product offering. On the whole, AIT appears well-positioned for long-term growth and is a promising investment opportunity for those looking to capitalize on the current market conditions.
