Applied Industrial Technologies (NYSE:AIT) Now Covered by Analysts at Mizuho

Mizuho assumed coverage on shares of Applied Industrial Technologies (NYSE:AIT) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $285.00 price objective on the industrial products company’s stock.

AIT has been the topic of a number of other research reports. Loop Capital increased their price target on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Raymond James began coverage on shares of Applied Industrial Technologies in a report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 target price on the stock. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Robert W. Baird increased their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America assumed coverage on shares of Applied Industrial Technologies in a research note on Monday, October 7th. They issued a “neutral” rating and a $232.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.14.

Applied Industrial Technologies Trading Up 3.5 %

AIT stock opened at $231.75 on Tuesday. Applied Industrial Technologies has a 12 month low of $149.59 and a 12 month high of $240.45. The firm’s 50-day moving average is $214.20 and its 200 day moving average is $200.90. The company has a market capitalization of $8.95 billion, a PE ratio of 24.29, a P/E/G ratio of 3.12 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $2.35 earnings per share. On average, research analysts anticipate that Applied Industrial Technologies will post 9.69 EPS for the current year.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies 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 transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt W. Loring sold 3,366 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,927 shares of company stock valued at $2,439,116 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Applied Industrial Technologies

A number of institutional investors have recently bought and sold shares of AIT. Insight Folios Inc purchased a new position in shares of Applied Industrial Technologies in the third quarter worth $204,000. State of Alaska Department of Revenue increased its position in shares of Applied Industrial Technologies by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,495 shares of the industrial products company’s stock valued at $1,002,000 after acquiring an additional 300 shares during the period. GHP Investment Advisors Inc. raised its stake in Applied Industrial Technologies by 3.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 43 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Applied Industrial Technologies during the 3rd quarter worth about $217,000. Finally, Ballentine Partners LLC grew its stake in Applied Industrial Technologies by 7.1% during the 3rd quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 74 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.