Applied Industrial Technologies (NYSE:AIT) PT Raised to $250.00 at Raymond James

Applied Industrial Technologies (NYSE:AIT) had its price target increased by equities researchers at Raymond James from $225.00 to $250.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Raymond James’ price target would suggest a potential upside of 8.08% from the company’s current price.

Several other equities analysts have also recently commented on the stock. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird boosted their price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer lifted their target price on Applied Industrial Technologies from $235.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America initiated coverage on shares of Applied Industrial Technologies in a research report on Monday, October 7th. They set a “neutral” rating and a $232.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.71.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT opened at $231.30 on Friday. Applied Industrial Technologies has a 12-month low of $149.59 and a 12-month high of $240.45. The company’s 50 day moving average price is $214.79 and its two-hundred day moving average price is $201.18. The firm has a market cap of $8.93 billion, a PE ratio of 24.25, a PEG ratio of 3.12 and a beta of 1.03. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.11. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.39 EPS. Equities research analysts predict that Applied Industrial Technologies will post 9.69 earnings per share for the current year.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Kurt W. Loring sold 3,366 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,927 shares of company stock worth $2,439,116 over the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Boston Trust Walden Corp increased its holdings in Applied Industrial Technologies by 1.2% in the second quarter. Boston Trust Walden Corp now owns 630,915 shares of the industrial products company’s stock worth $122,398,000 after purchasing an additional 7,720 shares in the last quarter. Dundas Partners LLP acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $46,805,000. Handelsbanken Fonder AB boosted its stake in Applied Industrial Technologies by 28.7% during the third quarter. Handelsbanken Fonder AB now owns 221,823 shares of the industrial products company’s stock worth $49,495,000 after acquiring an additional 49,500 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Applied Industrial Technologies by 18.2% in the second quarter. Victory Capital Management Inc. now owns 204,430 shares of the industrial products company’s stock worth $39,659,000 after purchasing an additional 31,514 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of Applied Industrial Technologies during the first quarter valued at about $39,093,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.