Applied Industrial Technologies (NYSE:AIT – Get Rating) had its target price trimmed by KeyCorp from $140.00 to $130.00 in a report published on Wednesday, Stock Target Advisor reports. The brokerage currently has an overweight rating on the industrial products company's stock.
A number of other brokerages have also recently weighed in on AIT. StockNews.com cut shares of Applied Industrial Technologies from a strong-buy rating to a buy rating in a report on Tuesday. Robert W. Baird lowered shares of Applied Industrial Technologies from an outperform rating to a neutral rating and upped their price target for the stock from $115.00 to $129.00 in a research report on Friday, August 12th.
Get Applied Industrial Technologies alerts:Applied Industrial Technologies Trading Up 1.1 %
AIT opened at $99.70 on Wednesday. The stock has a market capitalization of $3.85 billion, a PE ratio of 14.86 and a beta of 1.19. The firm's fifty day moving average price is $105.26 and its 200 day moving average price is $101.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.72 and a quick ratio of 1.82. Applied Industrial Technologies has a 12-month low of $88.09 and a 12-month high of $121.20.
Applied Industrial Technologies (NYSE:AIT – Get Rating) last issued its earnings results on Thursday, August 11th. The industrial products company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.36. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $977.43 million. Applied Industrial Technologies had a net margin of 6.76% and a return on equity of 24.25%. The firm's revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 earnings per share. As a group, research analysts expect that Applied Industrial Technologies will post 7.3 EPS for the current fiscal year.Insider Transactions at Applied Industrial Technologies
In other news, VP Kurt W. Loring sold 7,146 shares of the company's stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $112.66, for a total transaction of $805,068.36. Following the completion of the transaction, the vice president now owns 24,632 shares in the company, valued at $2,775,041.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Vincent K. Petrella sold 3,114 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $114.76, for a total value of $357,362.64. Following the completion of the transaction, the director now owns 18,666 shares in the company, valued at approximately $2,142,110.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kurt W. Loring sold 7,146 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $112.66, for a total transaction of $805,068.36. Following the completion of the transaction, the vice president now owns 24,632 shares of the company's stock, valued at approximately $2,775,041.12. The disclosure for this sale can be found here. Insiders own 2.20% of the company's stock.
Hedge Funds Weigh In On Applied Industrial Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of AIT. Geode Capital Management LLC grew its position in Applied Industrial Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 674,811 shares of the industrial products company's stock valued at $69,303,000 after buying an additional 12,225 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Applied Industrial Technologies by 38.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 141 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Applied Industrial Technologies by 4.8% in the 4th quarter. Nuveen Asset Management LLC now owns 550,963 shares of the industrial products company's stock valued at $56,583,000 after acquiring an additional 24,996 shares during the last quarter. State Street Corp lifted its holdings in Applied Industrial Technologies by 1.8% in the 4th quarter. State Street Corp now owns 1,311,361 shares of the industrial products company's stock valued at $134,677,000 after acquiring an additional 23,027 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Applied Industrial Technologies by 463.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,144,594 shares of the industrial products company's stock valued at $117,550,000 after acquiring an additional 941,429 shares during the last quarter. Institutional investors own 93.10% of the company's stock.
Applied Industrial Technologies Company Profile
(Get Rating)
Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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.
See Also
- Get a free copy of the StockNews.com research report on Applied Industrial Technologies (AIT)
- A Trio of Q3 Winners With Room to Run
- This Little Known Small Cap Is Up 139%: Is The Stock A Buy?
- Can HCA Healthcare Weather the Normalization?
- Can United Natural Foods Fight Both Inflation and the Fed?
- Mullen Automotive Is Ready To Get In Gear
Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.