KeyCorp Raises Applied Industrial Technologies (NYSE:AIT) Price Target to $245.00

Applied Industrial Technologies (NYSE:AIT) had its target price upped by KeyCorp from $215.00 to $245.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other research firms have also weighed in on AIT. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a neutral rating on the stock. StockNews.com cut shares of Applied Industrial Technologies from a buy rating to a hold rating in a research report on Thursday, September 5th. Raymond James assumed coverage on shares of Applied Industrial Technologies in a research note on Wednesday, September 4th. They set an outperform rating and a $225.00 target price for the company. Loop Capital raised their price target on Applied Industrial Technologies from $215.00 to $230.00 and gave the company a buy rating in a research note on Friday, August 16th. Finally, Robert W. Baird upped their price objective on Applied Industrial Technologies from $205.00 to $210.00 and gave the stock an outperform rating in a research report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $229.00.

Applied Industrial Technologies Trading Down 1.0 %

NYSE AIT opened at $220.32 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.31 and a beta of 1.03. The firm has a 50 day simple moving average of $205.11 and a 200-day simple moving average of $196.26. Applied Industrial Technologies has a one year low of $149.59 and a one year high of $226.23.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 earnings per share. Equities research analysts anticipate that Applied Industrial Technologies will post 9.71 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, August 15th. Applied Industrial Technologies’s payout ratio is 15.51%.

Insider Transactions at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,927 shares of company stock worth $2,439,116. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Applied Industrial Technologies

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Applied Industrial Technologies by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock worth $875,912,000 after purchasing an additional 14,858 shares in the last quarter. Boston Trust Walden Corp increased its position in Applied Industrial Technologies by 1.2% during the 2nd 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 during the period. Capital Research Global Investors raised its stake in shares of Applied Industrial Technologies by 978.3% during the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock worth $96,646,000 after buying an additional 507,750 shares in the last quarter. Fiduciary Management Inc. WI lifted its holdings in shares of Applied Industrial Technologies by 3.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 519,224 shares of the industrial products company’s stock valued at $89,665,000 after buying an additional 15,928 shares during the period. Finally, Norges Bank acquired a new stake in shares of Applied Industrial Technologies in the 4th quarter valued at approximately $72,436,000. Hedge funds and other 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.