Applied Industrial Technologies, Inc. (NYSE:AIT) Receives $285.71 Consensus PT from Analysts

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $285.71.

A number of research analysts recently weighed in on the stock. Mizuho initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an "outperform" rating and a $285.00 price objective on the stock. Bank of America upgraded Applied Industrial Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $285.00 to $315.00 in a research note on Tuesday, November 26th. KeyCorp lifted their price objective on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Oppenheimer increased their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Finally, Raymond James boosted their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, October 25th.

Applied Industrial Technologies Stock Up 0.3 %

Shares of Applied Industrial Technologies stock traded up $0.81 on Wednesday, reaching $239.47. The company's stock had a trading volume of 195,230 shares, compared to its average volume of 286,257. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 3.71 and a beta of 1.05. The company has a quick ratio of 2.74, a current ratio of 3.78 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies has a 52 week low of $163.50 and a 52 week high of $282.98. The firm's fifty day simple moving average is $257.64 and its two-hundred day simple moving average is $224.17.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. Applied Industrial Technologies's revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.39 EPS. Equities analysts anticipate that Applied Industrial Technologies will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.62%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.10%.

Insider Buying and Selling

In related news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the sale, the vice president now owns 55,709 shares of the company's stock, valued at approximately $15,689,882.76. This trade represents a 6.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Dean Hall sold 2,200 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was 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 of the company's stock, valued at $952,326.96. The trade was a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in Applied Industrial Technologies by 14.3% in the 3rd quarter. Franklin Resources Inc. now owns 233,655 shares of the industrial products company's stock valued at $53,238,000 after acquiring an additional 29,288 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Applied Industrial Technologies by 24.9% during the third quarter. TD Private Client Wealth LLC now owns 1,017 shares of the industrial products company's stock valued at $227,000 after purchasing an additional 203 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Applied Industrial Technologies by 3.7% in the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company's stock worth $429,000 after purchasing an additional 68 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Applied Industrial Technologies by 4.1% in the third quarter. Geode Capital Management LLC now owns 1,040,389 shares of the industrial products company's stock worth $232,181,000 after buying an additional 40,689 shares in the last quarter. Finally, Vestcor Inc boosted its stake in Applied Industrial Technologies by 105.5% during the third quarter. Vestcor Inc now owns 7,750 shares of the industrial products company's stock valued at $1,729,000 after buying an additional 3,979 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

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.