Applied Industrial Technologies (NYSE:AIT) Price Target Increased to $275.00 by Analysts at KeyCorp

Applied Industrial Technologies (NYSE:AIT) had its price target lifted by KeyCorp from $245.00 to $275.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other equities analysts also recently commented on the company. Northcoast Research started coverage on Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating on the stock. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Raymond James started coverage on shares of Applied Industrial Technologies in a report on Wednesday, September 4th. They issued an “outperform” rating and a $225.00 price objective for the company. Robert W. Baird raised their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America initiated coverage on Applied Industrial Technologies in a research note on Monday, October 7th. They set a “neutral” rating and a $232.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $255.71.

Applied Industrial Technologies Price Performance

AIT stock opened at $231.32 on Friday. Applied Industrial Technologies has a one year low of $149.59 and a one year high of $240.45. The firm has a 50-day moving average of $214.79 and a two-hundred day moving average of $201.14. The firm has a market capitalization of $8.93 billion, a PE ratio of 24.25, a P/E/G ratio of 3.12 and a beta of 1.03. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business earned $2.39 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, analysts forecast that Applied Industrial Technologies will post 9.69 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

Insider Activity

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction on Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,927 shares of company stock worth $2,439,116. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

A number of institutional investors have recently made changes to their positions in AIT. GHP Investment Advisors Inc. raised its stake in Applied Industrial Technologies by 3.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock worth $255,000 after buying an additional 43 shares during the period. QRG Capital Management Inc. raised its position in Applied Industrial Technologies by 0.9% in the 2nd quarter. QRG Capital Management Inc. now owns 6,462 shares of the industrial products company’s stock valued at $1,254,000 after buying an additional 55 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in Applied Industrial Technologies by 2.4% during the second quarter. Miller Howard Investments Inc. NY now owns 2,300 shares of the industrial products company’s stock worth $446,000 after purchasing an additional 55 shares during the last quarter. Measured Wealth Private Client Group LLC increased its stake in Applied Industrial Technologies by 1.2% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock valued at $969,000 after buying an additional 59 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Applied Industrial Technologies by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 17,394 shares of the industrial products company’s stock valued at $3,374,000 after buying an additional 61 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.