Applied Industrial Technologies (NYSE:AIT) Rating Lowered to “Hold” at StockNews.com

Applied Industrial Technologies (NYSE:AIT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

AIT has been the subject of a number of other research reports. Oppenheimer raised their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. KeyCorp raised their price objective on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their target price on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Loop Capital lifted their target price on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Raymond James lifted their target price on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.71.

Applied Industrial Technologies Trading Down 0.6 %

Applied Industrial Technologies stock opened at $261.64 on Thursday. The company has a 50 day moving average price of $258.86 and a 200 day moving average price of $230.39. Applied Industrial Technologies has a 52 week low of $173.73 and a 52 week high of $282.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The firm has a market capitalization of $10.06 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 3.53 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business posted $2.39 EPS. The company’s revenue was up .3% on a year-over-year basis. Research analysts forecast that Applied Industrial Technologies will post 9.77 EPS for the current year.

Insider Activity at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the transaction, the vice president now owns 55,709 shares in the company, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares in the company, valued at $952,326.96. This trade represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. 1.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Applied Industrial Technologies in the 3rd quarter worth $34,000. First Horizon Advisors Inc. boosted its position in Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after buying an additional 88 shares in the last quarter. UMB Bank n.a. boosted its position in Applied Industrial Technologies by 68.1% in the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after buying an additional 77 shares in the last quarter. Quarry LP acquired a new position in Applied Industrial Technologies in the second quarter valued at about $39,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of Applied Industrial Technologies during the third quarter worth approximately $84,000. Institutional investors own 93.52% of the company’s stock.

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.