APPLIED INDUSTRIAL TECHNOLOGIES INC - Director's Dealing 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT)
CIK: 0000109563
Period of Report: 2006-10-26

Reporting Person: COTICCHIA MICHAEL L (VP-CAO & Gov Bus)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-26	Common Stock	M	10125	$6.940	Acquired	23126.96	Direct
2006-10-26	Common Stock	M	6720	$9.465	Acquired	29846.96	Direct
2006-10-26	Common Stock	M	4050	$12.907	Acquired	33896.96	Direct
2006-10-26	Common Stock	M	2325	$23.000	Acquired	36221.96	Direct
2006-10-26	Common Stock	F	12919	$29.650	Disposed	23302.96	Direct
2006-10-27	Common Stock	S	6000	$29.740	Disposed	17302.96	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-26	Employee Stock Option (Right to Buy)	$6.940	M	10125	Disposed	2012-08-06	Common Stock (10125)	Direct
2006-10-26	Employee Stock Option (Right to Buy)	$9.465	M	6720	Disposed	2013-08-08	Common Stock (6720)	Direct
2006-10-26	Stock Appreciation Rights	$12.907	M	4050	Disposed	2014-08-06	Common Stock (4050)	Direct
2006-10-26	Stock Appreciation Rights	$23.000	M	2325	Disposed	2015-08-09	Common Stock (2325)	Direct

Security	Shares	Ownership
Common Stock	10399.44	Indirect
Common Stock	1348.29	Indirect

F1: Includes 14.78 shares reflecting activity in Dividend Reinvestment Plan during period 7/1/06 thru 10/26/06.

F2: These options become exercisable in annual increments of 25% commencing one year after the date of grant.

F3: Stock-only stock appreciation rights which become exercisable in annual increments of 25% commencing one year after the date of grant.