Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have earned a consensus recommendation of “Hold” from the six analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $63.00.
Several equities research analysts recently weighed in on the company. BidaskClub lowered Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating and issued a $63.00 target price (down from $67.00) on shares of Applied Industrial Technologies in a report on Wednesday, July 12th. Northcoast Research assumed coverage on Applied Industrial Technologies in a report on Tuesday, July 25th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Monday, August 14th. Finally, ValuEngine lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd.
Shares of Applied Industrial Technologies (AIT) opened at 65.20 on Friday. The firm has a 50-day moving average of $62.95 and a 200 day moving average of $60.28. The firm has a market cap of $2.55 billion, a P/E ratio of 19.18 and a beta of 0.95. Applied Industrial Technologies has a 12 month low of $48.30 and a 12 month high of $70.05.
Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The firm had revenue of $680.70 million during the quarter, compared to analyst estimates of $668.18 million. During the same period in the previous year, the company earned $0.70 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts anticipate that Applied Industrial Technologies will post $3.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.16 annualized dividend and a yield of 1.78%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 34.12%.
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In other news, VP Mark O. Eisele sold 4,939 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.91, for a total transaction of $276,139.49. Following the completion of the transaction, the vice president now directly owns 106,090 shares in the company, valued at $5,931,491.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $56.92, for a total value of $341,520.00. Following the transaction, the vice president now owns 159,029 shares of the company’s stock, valued at $9,051,930.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,571 shares of company stock valued at $4,070,841. Corporate insiders own 3.70% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. First Trust Advisors LP lifted its holdings in shares of Applied Industrial Technologies by 280.1% during the third quarter. First Trust Advisors LP now owns 19,004 shares of the industrial products company’s stock worth $1,250,000 after buying an additional 14,004 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in shares of Applied Industrial Technologies by 62.3% during the third quarter. Nationwide Fund Advisors now owns 39,696 shares of the industrial products company’s stock worth $2,612,000 after buying an additional 15,232 shares during the last quarter. APG Asset Management N.V. acquired a new position in shares of Applied Industrial Technologies during the third quarter worth approximately $2,171,000. Alpha Windward LLC lifted its holdings in shares of Applied Industrial Technologies by 14.4% during the third quarter. Alpha Windward LLC now owns 8,580 shares of the industrial products company’s stock worth $565,000 after buying an additional 1,080 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Applied Industrial Technologies by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 4,286 shares of the industrial products company’s stock worth $253,000 after buying an additional 23 shares during the last quarter. Institutional investors own 87.03% of the company’s stock.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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