Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Applied Industrial Technologies Inc. shares valued at $986,660 were sold by Loring Kurt W. on Aug 30 ’24. At $203.10 per share, Loring Kurt W. sold 4,858 shares. The insider’s holdings dropped to 19,315 shares worth approximately $3.83 million following the completion of this transaction.
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Also, Loring Kurt W. purchased 4,858 shares, netting a total of over 986,666 in proceeds.
Before that, Loring Kurt W. had sold 3,366 shares from its account. In a trade valued at $703,561, the VP-Chief HR Officer traded Applied Industrial Technologies Inc. shares for $209.02 each. Upon closing the transaction, the insider’s holdings decreased to 3,366 shares, worth approximately $3.83 million.
As published in their initiating research note from Raymond James on September 04, 2024, Applied Industrial Technologies Inc. [AIT] has been an Outperform and the price target has been revised to $225. Analysts at Northcoast started covering the stock with ‘”a Neutral”‘ outlook in a report released in early July. As of April 03, 2024, Oppenheimer has initiated its “an Outperform” rating for AIT. Earlier on March 17, 2023, Robert W. Baird upgraded its rating. Their new recommendation was “an Outperform” for AIT stock which previously was a “a Neutral”.
Analyzing AIT Stock Performance
During the last five days, there has been a drop of approximately -2.95%. Over the course of the year, Applied Industrial Technologies Inc. shares have jumped approximately 14.89%. Shares of the company reached a 52-week high of $223.15 on 07/31/24 and a 52-week low of $163.50 on 01/09/24. A 50-day SMA is recorded $200.25, while a 200-day SMA reached $187.06. Nevertheless, trading volume fell to 0.21 million shares from 0.24 million shares the previous day.
Support And Resistance Levels for Applied Industrial Technologies Inc. (AIT)
According to the 24-hour chart, there is a support level at 197.10, which, if violated, would cause prices to drop to 195.79. In the upper region, resistance lies at 199.86. The next price resistance is at 201.30. RSI (Relative Strength Index) is 45.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.90, which suggests the price will decrease in the coming days. Percent R is at 60.62%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
