Applied Industrial Technologies (NYSE:AIT) – Research analysts at Northcoast Research raised their Q4 2018 EPS estimates for shares of Applied Industrial Technologies in a research report issued to clients and investors on Wednesday. Northcoast Research analyst R. Cieslak now expects that the industrial products company will earn $0.95 per share for the quarter, up from their previous estimate of $0.83.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $680.70 million during the quarter, compared to the consensus estimate of $668.18 million. During the same quarter last year, the company earned $0.70 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up 8.9% on a year-over-year basis.

Several other brokerages also recently issued reports on AIT. Zacks Investment Research raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Thursday. Wellington Shields raised shares of Applied Industrial Technologies to a “hold” rating in a research report on Tuesday, January 2nd. Finally, ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.50.

Shares of Applied Industrial Technologies (NYSE:AIT) traded down $0.80 during trading hours on Friday, reaching $70.20. 248,228 shares of the company’s stock traded hands, compared to its average volume of 297,467. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.13 and a quick ratio of 1.83. Applied Industrial Technologies has a one year low of $54.00 and a one year high of $71.60. The firm has a market capitalization of $2,730.00, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.84 and a beta of 0.93.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Applied Industrial Technologies by 0.5% during the second quarter. BlackRock Inc. now owns 5,592,219 shares of the industrial products company’s stock worth $330,220,000 after buying an additional 25,364 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Applied Industrial Technologies by 4.8% during the second quarter. Vanguard Group Inc. now owns 3,662,402 shares of the industrial products company’s stock worth $216,264,000 after buying an additional 166,858 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Applied Industrial Technologies by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,178,032 shares of the industrial products company’s stock worth $77,513,000 after buying an additional 68,270 shares in the last quarter. State Street Corp grew its position in shares of Applied Industrial Technologies by 11.2% during the second quarter. State Street Corp now owns 1,003,427 shares of the industrial products company’s stock worth $59,253,000 after buying an additional 101,228 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Applied Industrial Technologies by 6.2% during the third quarter. Victory Capital Management Inc. now owns 984,997 shares of the industrial products company’s stock worth $64,813,000 after buying an additional 57,789 shares in the last quarter. 87.89% of the stock is owned by institutional investors and hedge funds.

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About Applied Industrial Technologies

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.

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