Applied Industrial Technologies (NYSE:AIT) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Applied Industrial Technologies (NYSE:AIT – Get Rating) in a research note published on Thursday morning. The brokerage issued a buy rating on the industrial products company’s stock.

AIT has been the subject of several other reports. Robert W. Baird upped their target price on Applied Industrial Technologies from $138.00 to $160.00 and gave the company a neutral rating in a report on Tuesday, January 24th. Loop Capital upped their target price on Applied Industrial Technologies from $150.00 to $170.00 and gave the company a buy rating in a report on Friday, January 27th. Finally, KeyCorp upped their target price on Applied Industrial Technologies from $138.00 to $162.00 and gave the company an overweight rating in a report on Friday, January 27th.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $132.23 on Thursday. The company has a market cap of $5.10 billion, a PE ratio of 16.97 and a beta of 1.19. Applied Industrial Technologies has a 52 week low of $88.09 and a 52 week high of $149.42. The business has a 50 day moving average price of $136.55 and a 200-day moving average price of $124.59. The company has a quick ratio of 2.01, a current ratio of 3.18 and a debt-to-equity ratio of 0.48.

Applied Industrial Technologies (NYSE:AIT – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.71 by $0.34. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $996.44 million. Applied Industrial Technologies had a return on equity of 25.58% and a net margin of 7.32%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. Equities analysts anticipate that Applied Industrial Technologies will post 8.34 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Wednesday, February 15th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.06%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, February 14th. Applied Industrial Technologies’s dividend payout ratio is 17.97%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 21,526 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $145.06, for a total transaction of $3,122,561.56. Following the completion of the transaction, the chief executive officer now directly owns 318,218 shares of the company’s stock, valued at $46,160,703.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 21,526 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $145.06, for a total transaction of $3,122,561.56. Following the completion of the transaction, the chief executive officer now directly owns 318,218 shares of the company’s stock, valued at $46,160,703.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 4,186 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $145.00, for a total value of $606,970.00. Following the transaction, the chief executive officer now directly owns 339,744 shares of the company’s stock, valued at $49,262,880. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

Institutional investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $25,000. Point72 Middle East FZE purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $28,000. State of Wyoming purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $29,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Applied Industrial Technologies during the third quarter worth $31,000. Finally, Ellevest Inc. lifted its position in shares of Applied Industrial Technologies by 30.7% during the third quarter. Ellevest Inc. now owns 370 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Applied Industrial Technologies Company Profile

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Applied Industrial Technologies, Inc engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution, and Fluid Power & Flow Control Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers.