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

Northcoast Research started coverage on shares of Applied Industrial Technologies (NYSE:AIT) in a research note issued to investors on Monday, Marketbeat reports. The firm issued a neutral rating on the industrial products company’s stock.

AIT has been the subject of several other research reports. KeyCorp raised their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Oppenheimer initiated coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They set an outperform rating and a $235.00 price target for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $201.00.

Applied Industrial Technologies Trading Down 1.9 %

NYSE:AIT opened at $190.30 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77. The firm has a market cap of $7.35 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.02 and a beta of 1.06. Applied Industrial Technologies has a 52 week low of $138.38 and a 52 week high of $201.76. The firm has a 50-day moving average price of $190.63 and a two-hundred day moving average price of $185.67.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter 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. On average, equities analysts expect that Applied Industrial Technologies will post 9.62 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed 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. This represents a $1.48 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, August 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.51%.

Insider Buying and Selling

In related news, VP Jason W. Vasquez sold 650 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in Applied Industrial Technologies in the 1st quarter valued at $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 4th quarter valued at $26,000. ZRC Wealth Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 1st quarter valued at $42,000. Covestor Ltd raised its position in shares of Applied Industrial Technologies by 300.0% during the 1st quarter. Covestor Ltd now owns 292 shares of the industrial products company’s stock valued at $58,000 after buying an additional 219 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Applied Industrial Technologies by 68.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 305 shares of the industrial products company’s stock valued at $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.