Applied Industrial Technologies (NYSE:AIT) PT Raised to $250.00 at Robert W. Baird

Applied Industrial Technologies (NYSE:AIT) had its price objective hoisted by equities researchers at Robert W. Baird from $210.00 to $250.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price points to a potential upside of 10.14% from the company’s current price.

Other equities research analysts have also issued reports about the company. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. KeyCorp lifted their price objective on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating on the stock. Loop Capital increased their price target on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Raymond James initiated coverage on Applied Industrial Technologies in a research report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price target for the company. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.17.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $226.98 on Wednesday. Applied Industrial Technologies has a 1 year low of $149.59 and a 1 year high of $230.48. The firm has a 50 day moving average price of $209.47 and a 200 day moving average price of $199.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.12. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 EPS. Sell-side analysts predict that Applied Industrial Technologies will post 9.69 earnings per share for the current year.

Insider Activity

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction that occurred 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 owns 205,708 shares in the company, valued at $41,602,385.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the transaction, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock valued at $2,439,116 in the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Applied Industrial Technologies by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock worth $875,912,000 after buying an additional 14,858 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Applied Industrial Technologies by 1.2% in the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock valued at $122,398,000 after purchasing an additional 7,720 shares during the period. Dundas Partners LLP purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $46,805,000. Handelsbanken Fonder AB grew its stake in Applied Industrial Technologies by 28.7% in the third quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company’s stock valued at $49,495,000 after purchasing an additional 49,500 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Applied Industrial Technologies by 18.2% during the second quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company’s stock worth $39,659,000 after purchasing an additional 31,514 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

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.