Applied Industrial Technologies, Inc. (NYSE:AIT) Receives $291.43 Consensus PT from Analysts

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $291.43.

AIT has been the topic of several analyst reports. Raymond James reiterated an “outperform” rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Oppenheimer increased their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. KeyCorp increased their target price on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $285.00 to $315.00 in a report on Tuesday, November 26th.

Applied Industrial Technologies Trading Down 1.0 %

Shares of NYSE AIT opened at $245.15 on Thursday. The company’s 50 day simple moving average is $253.36 and its 200 day simple moving average is $240.55. Applied Industrial Technologies has a fifty-two week low of $177.68 and a fifty-two week high of $282.98. The firm has a market capitalization of $9.41 billion, a P/E ratio of 24.84, a P/E/G ratio of 3.14 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. On average, analysts predict that Applied Industrial Technologies will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.46 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.75%. Applied Industrial Technologies’s dividend payout ratio is currently 18.64%.

Institutional Investors Weigh In On Applied Industrial Technologies

Large investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its position in shares of Applied Industrial Technologies by 5,900.0% during the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 118 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $30,000. First Horizon Advisors Inc. grew its position in Applied Industrial Technologies by 106.0% in the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 88 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Applied Industrial Technologies in the fourth quarter valued at $44,000. Finally, Huntington National Bank grew its position in Applied Industrial Technologies by 33.8% in the fourth quarter. Huntington National Bank now owns 186 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

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.