Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities researchers at KeyCorp increased their FY2018 earnings per share estimates for shares of Applied Industrial Technologies in a research note issued to investors on Wednesday. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $3.17 for the year, up from their prior estimate of $3.03.

Several other research analysts have also commented on AIT. Wells Fargo & Company reiterated a “market perform” rating and set a $63.00 price objective (down previously from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. BidaskClub lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Northcoast Research started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating for the company. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday, August 14th. Finally, ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $66.00.

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Applied Industrial Technologies (AIT) traded down 1.85% during midday trading on Monday, hitting $63.55. 23,901 shares of the stock were exchanged. Applied Industrial Technologies has a 12 month low of $48.60 and a 12 month high of $70.05. The firm’s 50 day moving average price is $63.34 and its 200 day moving average price is $60.34. The company has a market cap of $2.48 billion, a PE ratio of 18.69 and a beta of 0.95.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The firm had revenue of $680.70 million for the quarter, compared to analysts’ expectations of $668.18 million. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.79%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 32.58%.

In related news, VP Mark O. Eisele sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $56.11, for a total transaction of $336,660.00. Following the completion of the transaction, the vice president now owns 153,029 shares in the company, valued at approximately $8,586,457.19. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark O. Eisele sold 11,854 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $55.76, for a total transaction of $660,979.04. Following the transaction, the vice president now owns 147,029 shares of the company’s stock, valued at approximately $8,198,337.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,571 shares of company stock valued at $4,070,841. 3.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in shares of Applied Industrial Technologies by 2.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,741 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 64 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Applied Industrial Technologies by 57.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 1,198 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Applied Industrial Technologies by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 226 shares in the last quarter. Paradigm Asset Management Co. LLC increased its stake in Applied Industrial Technologies by 59.1% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 3,500 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Applied Industrial Technologies Company Profile

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.

Earnings History and Estimates for Applied Industrial Technologies (NYSE:AIT)

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