Applied Industrial Technologies (NYSE:AIT) has been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $71.00.
A number of brokerages recently issued reports on AIT. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Wellington Shields raised shares of Applied Industrial Technologies to a “hold” rating in a report on Tuesday, January 2nd.
In other Applied Industrial Technologies news, VP Todd A. Barlett sold 3,800 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $75.00, for a total transaction of $285,000.00. Following the completion of the transaction, the vice president now owns 90,155 shares of the company’s stock, valued at $6,761,625. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Green Edith Kelly sold 6,873 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $74.41, for a total transaction of $511,419.93. Following the transaction, the director now directly owns 24,230 shares of the company’s stock, valued at approximately $1,802,954.30. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Applied Industrial Technologies by 39.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,600 shares of the industrial products company’s stock valued at $177,000 after purchasing an additional 730 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Applied Industrial Technologies by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 226 shares during the period. Verity Asset Management Inc. purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $206,000. Hartford Investment Management Co. purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $207,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $212,000. 88.21% of the stock is owned by institutional investors.
Shares of Applied Industrial Technologies (NYSE AIT) opened at $70.65 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.33 and a quick ratio of 1.90. Applied Industrial Technologies has a 1-year low of $54.00 and a 1-year high of $75.35. The stock has a market cap of $2,720.00, a PE ratio of 18.89, a P/E/G ratio of 1.68 and a beta of 0.96.
Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, January 25th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. Applied Industrial Technologies had a net margin of 5.43% and a return on equity of 16.53%. The firm had revenue of $667.19 million during the quarter, compared to analyst estimates of $651.05 million. research analysts expect that Applied Industrial Technologies will post 3.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.29. Applied Industrial Technologies’s dividend payout ratio (DPR) is 31.02%.
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Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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