Applied Industrial Technologies (NYSE:AIT) PT Raised to $215.00 at KeyCorp

Applied Industrial Technologies (NYSE:AIT) had its target price increased by KeyCorp from $210.00 to $215.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

AIT has been the subject of several other research reports. Northcoast Research initiated coverage on Applied Industrial Technologies in a report on Monday, July 1st. They issued a neutral rating for the company. Loop Capital lifted their price target on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a buy rating in a report on Friday. Finally, StockNews.com cut Applied Industrial Technologies from a buy rating to a hold rating in a report on Thursday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies has an average rating of Moderate Buy and a consensus price target of $226.67.

Applied Industrial Technologies Trading Up 0.8 %

Shares of AIT stock opened at $201.56 on Friday. The firm has a 50-day moving average price of $196.73 and a 200 day moving average price of $192.36. Applied Industrial Technologies has a twelve month low of $142.66 and a twelve month high of $223.15. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.03 and a beta of 1.06. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $2.35 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts forecast that Applied Industrial Technologies will post 9.62 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Thursday, August 15th. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

Institutional Trading of Applied Industrial Technologies

Several large investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in shares of Applied Industrial Technologies during the first quarter valued at approximately $593,000. Meritage Portfolio Management raised its stake in shares of Applied Industrial Technologies by 2.0% during the fourth quarter. Meritage Portfolio Management now owns 3,638 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 73 shares during the period. American International Group Inc. raised its stake in shares of Applied Industrial Technologies by 232.6% during the first quarter. American International Group Inc. now owns 69,901 shares of the industrial products company’s stock valued at $13,809,000 after purchasing an additional 48,883 shares during the period. Hennessy Advisors Inc. raised its stake in shares of Applied Industrial Technologies by 18.3% during the first quarter. Hennessy Advisors Inc. now owns 185,300 shares of the industrial products company’s stock valued at $36,606,000 after purchasing an additional 28,700 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of Applied Industrial Technologies by 116.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 7,623 shares of the industrial products company’s stock valued at $1,316,000 after purchasing an additional 4,098 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.