Brokerages Set Applied Industrial Technologies, Inc. (NYSE:AIT) Target Price at $236.17

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have given 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 $236.17.

A number of brokerages have issued reports on AIT. Northcoast Research started coverage on shares of Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating for the company. Robert W. Baird raised their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. KeyCorp boosted their target price on Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Bank of America started 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.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $203.10, for a total value of $986,659.80. Following the transaction, the vice president now directly owns 19,315 shares in the company, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was 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 in the company, valued at $41,602,385.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction on Friday, August 30th. The shares were 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 owns 19,315 shares of the company’s stock, valued at $3,922,876.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock valued at $2,439,116 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Trading of Applied Industrial Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter valued at about $25,000. Headlands Technologies LLC acquired a new position in Applied Industrial Technologies during the second quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new position in Applied Industrial Technologies during the third quarter worth approximately $34,000. Opal Wealth Advisors LLC purchased a new position in Applied Industrial Technologies during the second quarter worth approximately $32,000. Finally, UMB Bank n.a. boosted its holdings in shares of Applied Industrial Technologies by 68.1% in the 3rd 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 last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Down 1.3 %

NYSE:AIT opened at $232.07 on Friday. Applied Industrial Technologies has a 1 year low of $149.59 and a 1 year high of $235.75. 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 stock has a fifty day moving average price of $211.77 and a two-hundred day moving average price of $200.06. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted $2.35 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Industrial Technologies will post 9.69 earnings per share for the current fiscal year.

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.