Applied Industrial Technologies (NYSE:AIT) PT Raised to $210.00 at KeyCorp

Applied Industrial Technologies (NYSE:AIT) had its price objective lifted by equities research analysts at KeyCorp from $195.00 to $210.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price would suggest a potential upside of 9.87% from the stock’s current price.

Separately, Oppenheimer started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Buy” and a consensus target price of $201.00.

Applied Industrial Technologies Price Performance

AIT opened at $191.13 on Thursday. The business has a fifty day moving average of $189.80 and a 200 day moving average of $173.21. The stock has a market cap of $7.39 billion, a P/E ratio of 20.01, a PEG ratio of 2.03 and a beta of 1.08. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36. Applied Industrial Technologies has a 52-week low of $122.24 and a 52-week high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.13. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. As a group, sell-side analysts anticipate that Applied Industrial Technologies will post 9.49 EPS for the current year.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 2,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the completion of the sale, the vice president now owns 57,155 shares in the company, valued at approximately $10,421,642.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Trading of Applied Industrial Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AIT. ICA Group Wealth Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $26,000. FinTrust Capital Advisors LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at about $25,000. Huntington National Bank boosted its holdings in shares of Applied Industrial Technologies by 963.2% in the 3rd quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after buying an additional 183 shares in the last quarter. Point72 Middle East FZE purchased a new position in shares of Applied Industrial Technologies in the 4th quarter worth approximately $28,000. Finally, State of Wyoming bought a new position in shares of Applied Industrial Technologies during the 4th quarter worth approximately $29,000. Institutional investors own 93.52% of the company’s stock.

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.