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

Applied Industrial Technologies (NYSE:AIT - Free Report) had its target price decreased by KeyCorp from $325.00 to $275.00 in a report released on Monday,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company's stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Raymond James reissued an "outperform" rating and set a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Robert W. Baird boosted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Bank of America raised shares of Applied Industrial Technologies from a "neutral" rating to a "buy" rating and upped their price target for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $284.29.

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Applied Industrial Technologies Stock Down 1.6 %

Shares of Applied Industrial Technologies stock traded down $3.63 on Monday, hitting $224.83. 1,094,007 shares of the company's stock traded hands, compared to its average volume of 263,585. Applied Industrial Technologies has a 52-week low of $177.68 and a 52-week high of $282.98. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The stock has a market cap of $8.63 billion, a P/E ratio of 22.78, a PEG ratio of 3.14 and a beta of 1.08. The firm's 50-day moving average is $249.32 and its 200 day moving average is $243.51.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Equities analysts anticipate that Applied Industrial Technologies will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.46 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's dividend payout ratio is presently 18.64%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Larson Financial Group LLC grew its stake in Applied Industrial Technologies by 5,900.0% during the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 118 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. grew its position 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 valued at $38,000 after purchasing an additional 88 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Applied Industrial Technologies in the 4th quarter valued at approximately $44,000. Finally, Huntington National Bank lifted its position in Applied Industrial Technologies by 33.8% in the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock worth $45,000 after buying an additional 47 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.