Applied Industrial Technologies (NYSE:AIT) Earns Neutral Rating from Analysts at Northcoast Research

Northcoast Research initiated coverage on shares of Applied Industrial Technologies (NYSE:AIT) in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating on the industrial products company’s stock.

A number of other analysts have also recently commented on AIT. KeyCorp upped their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Oppenheimer assumed coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They set an outperform rating and a $235.00 target price on the stock. One equities research analyst has 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 target price of $201.00.

Applied Industrial Technologies Trading Down 0.3 %

Shares of AIT stock opened at $191.27 on Monday. The company has a current ratio of 3.77, a quick ratio of 2.70 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies has a 12-month low of $138.38 and a 12-month high of $201.76. The stock has a market capitalization of $7.38 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.02 and a beta of 1.06. The firm’s 50 day moving average is $190.85 and its 200 day moving average is $185.85.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted $2.38 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts expect that Applied Industrial Technologies will post 9.62 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a $0.37 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.77%. Applied Industrial Technologies’s dividend payout ratio is presently 15.51%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 650 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the transaction, the vice president now owns 22,960 shares of the company’s stock, valued at $4,516,461.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Several large investors have recently made changes to their positions in AIT. EntryPoint Capital LLC bought a new stake in Applied Industrial Technologies in the 1st quarter worth approximately $25,000. ICA Group Wealth Management LLC bought a new stake in Applied Industrial Technologies in the fourth quarter worth $26,000. ZRC Wealth Management LLC purchased a new stake in Applied Industrial Technologies during the first quarter valued at $42,000. McGlone Suttner Wealth Management Inc. bought a new position in Applied Industrial Technologies during the fourth quarter valued at $54,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Applied Industrial Technologies by 68.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 305 shares of the industrial products company’s stock worth $56,000 after buying an additional 124 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

About Applied Industrial Technologies

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.