Applied Industrial Technologies, Inc. (NYSE:AIT) Given Consensus Rating of “Moderate Buy” by Brokerages

Applied Industrial Technologies, Inc. (NYSE:AIT) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $285.71.

A number of analysts recently issued reports on the company. Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $285.00 to $315.00 in a research report on Tuesday, November 26th. Loop Capital upped their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer upped their price target on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, December 19th.

Insider Buying and Selling

In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares in the company, valued at $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the sale, the vice president now owns 55,709 shares in the company, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at $26,000. V Square Quantitative Management LLC acquired a new position in shares of Applied Industrial Technologies during the third quarter worth about $34,000. First Horizon Advisors Inc. raised its holdings in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 88 shares in the last quarter. UMB Bank n.a. lifted its position in Applied Industrial Technologies by 68.1% in the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 77 shares during the period. Finally, Quarry LP purchased a new stake in Applied Industrial Technologies in the 2nd quarter valued at approximately $39,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $245.03 on Wednesday. The firm’s 50-day moving average is $258.05 and its two-hundred day moving average is $224.94. Applied Industrial Technologies has a 12 month low of $163.50 and a 12 month high of $282.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The company has a market capitalization of $9.42 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 3.71 and a beta of 1.05.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.25 by $0.11. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.39 EPS. Analysts predict that Applied Industrial Technologies will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

About Applied Industrial Technologies

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.