Shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $285.71.
AIT has been the topic of several analyst reports. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. KeyCorp lifted their price objective on Applied Industrial Technologies from $275.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Raymond James increased their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $285.00 to $315.00 in a research report on Tuesday, November 26th.
View Our Latest Report on Applied Industrial Technologies
Insider Transactions at Applied Industrial Technologies
Institutional Investors Weigh In On Applied Industrial Technologies
Large investors have recently made changes to their positions in the business. Barclays PLC lifted its position in Applied Industrial Technologies by 156.6% during the 3rd quarter. Barclays PLC now owns 74,109 shares of the industrial products company’s stock worth $16,537,000 after acquiring an additional 45,224 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Applied Industrial Technologies during the third quarter worth $32,233,000. Sanctuary Advisors LLC acquired a new position in shares of Applied Industrial Technologies during the second quarter worth $1,279,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Applied Industrial Technologies during the 3rd quarter valued at $3,591,000. Finally, Janney Montgomery Scott LLC increased its stake in Applied Industrial Technologies by 126.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,396 shares of the industrial products company’s stock worth $981,000 after buying an additional 2,451 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.
Applied Industrial Technologies Price Performance
Shares of NYSE AIT opened at $251.20 on Friday. The stock has a fifty day moving average price of $257.71 and a 200 day moving average price of $232.80. Applied Industrial Technologies has a 1-year low of $176.32 and a 1-year high of $282.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The company has a market cap of $9.66 billion, a PE ratio of 25.63, a P/E/G ratio of 3.59 and a beta of 1.08.
Applied Industrial Technologies Company Profile
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.
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