Applied Industrial Technologies (NYSE:AIT) PT Raised to $250.00 at Robert W. Baird

Applied Industrial Technologies (NYSE:AIT) had its price objective hoisted by Robert W. Baird from $210.00 to $250.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

AIT has been the subject of a number of other research reports. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Raymond James assumed coverage on Applied Industrial Technologies in a research note on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price target for the company. Bank of America began coverage on shares of Applied Industrial Technologies in a research note on Monday, October 7th. They issued a “neutral” rating and a $232.00 price objective on the stock. Finally, Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.17.

Applied Industrial Technologies Trading Down 1.3 %

Shares of NYSE:AIT opened at $232.07 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56. Applied Industrial Technologies has a 1 year low of $149.59 and a 1 year high of $235.75. The company has a market cap of $8.96 billion, a P/E ratio of 24.33, a PEG ratio of 3.12 and a beta of 1.03. The stock’s fifty day moving average price is $211.77 and its 200-day moving average price is $200.02.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business earned $2.35 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts expect that Applied Industrial Technologies will post 9.69 earnings per share for the current year.

Insider Buying and Selling at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares of the company’s stock, valued at $41,602,385.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock valued at $2,439,116 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dundas Partners LLP bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at approximately $46,805,000. Nordea Investment Management AB bought a new stake in shares of Applied Industrial Technologies in the 1st quarter worth about $39,093,000. Retirement Systems of Alabama purchased a new stake in shares of Applied Industrial Technologies during the 1st quarter valued at about $19,263,000. F M Investments LLC bought a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at about $15,690,000. Finally, TimesSquare Capital Management LLC increased its stake in Applied Industrial Technologies by 91.5% during the first quarter. TimesSquare Capital Management LLC now owns 114,977 shares of the industrial products company’s stock worth $22,714,000 after acquiring an additional 54,927 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

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.