Analysts Set Applied Industrial Technologies, Inc. (NYSE:AIT) Price Target at $201.00

Applied Industrial Technologies, Inc. (NYSE:AIT) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $201.00.

A number of equities analysts have recently commented on the stock. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a report on Monday. They issued a “neutral” rating on the stock. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Oppenheimer assumed coverage on shares of Applied Industrial Technologies in a report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price on the stock.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 650 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the transaction, the vice president now directly owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in AIT. EntryPoint Capital LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter worth $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of Applied Industrial Technologies in the 4th quarter worth about $26,000. ZRC Wealth Management LLC purchased a new stake in shares of Applied Industrial Technologies in the 1st quarter worth about $42,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Applied Industrial Technologies in the 4th quarter worth about $54,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Applied Industrial Technologies by 68.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 305 shares of the industrial products company’s stock worth $56,000 after buying an additional 124 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Down 0.3 %

Shares of NYSE:AIT opened at $191.27 on Monday. The company has a market capitalization of $7.38 billion, a PE ratio of 20.05, a P/E/G ratio of 2.02 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 has a twelve month low of $138.38 and a twelve month high of $201.76. The firm has a 50 day simple moving average of $190.85 and a 200-day simple moving average of $185.85.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.08. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.13 billion. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.38 EPS. On average, equities analysts predict that Applied Industrial Technologies will post 9.62 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a $0.37 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.48 annualized dividend and a yield of 0.77%. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

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.