Applied Industrial Technologies (AIT) Receives Average Rating of “Hold” from Brokerages

Shares of Applied Industrial Technologies (NYSE:AIT) have been given an average recommendation of “Hold” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $63.00.

Several analysts have issued reports on AIT shares. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Thursday, January 11th. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Wellington Shields upgraded shares of Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a research note on Wednesday, December 27th.

Shares of AIT stock traded down $0.55 during trading on Friday, reaching $71.30. 150,396 shares of the company’s stock traded hands, compared to its average volume of 246,179. The stock has a market capitalization of $2,751.70, a P/E ratio of 25.11, a PEG ratio of 1.78 and a beta of 0.92. The company has a current ratio of 3.33, a quick ratio of 1.90 and a debt-to-equity ratio of 0.39. Applied Industrial Technologies has a 1 year low of $54.00 and a 1 year high of $75.40.



Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. The company had revenue of $667.19 million for the quarter, compared to analysts’ expectations of $651.05 million. Applied Industrial Technologies had a net margin of 5.43% and a return on equity of 16.53%. equities analysts predict that Applied Industrial Technologies will post 3.34 EPS for the current year.

In other Applied Industrial Technologies news, VP Todd A. Barlett sold 3,800 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $75.00, for a total value of $285,000.00. Following the sale, the vice president now directly owns 90,155 shares in the company, valued at approximately $6,761,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Green Edith Kelly sold 6,873 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $74.41, for a total transaction of $511,419.93. Following the completion of the sale, the director now owns 24,230 shares in the company, valued at $1,802,954.30. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Large investors have recently modified their holdings of the company. Aperio Group LLC increased its holdings in shares of Applied Industrial Technologies by 15.7% in the 4th quarter. Aperio Group LLC now owns 12,954 shares of the industrial products company’s stock worth $882,000 after buying an additional 1,761 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Applied Industrial Technologies in the 3rd quarter worth $6,343,000. California Public Employees Retirement System increased its holdings in shares of Applied Industrial Technologies by 3.5% in the 3rd quarter. California Public Employees Retirement System now owns 118,580 shares of the industrial products company’s stock worth $7,803,000 after buying an additional 3,980 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Applied Industrial Technologies by 2.7% in the 4th quarter. BlackRock Inc. now owns 6,058,895 shares of the industrial products company’s stock worth $412,609,000 after buying an additional 159,368 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of Applied Industrial Technologies by 175.2% in the 4th quarter. Meeder Asset Management Inc. now owns 4,285 shares of the industrial products company’s stock worth $292,000 after buying an additional 2,728 shares during the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

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About Applied Industrial Technologies

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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