Applied Industrial Technologies, Inc. (NYSE:AIT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $284.29.

A number of research analysts have recently issued reports on the stock. Raymond James reaffirmed an “outperform” rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. Robert W. Baird upped their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Bank of America upgraded Applied Industrial Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $285.00 to $315.00 in a research note on Tuesday, November 26th. Finally, KeyCorp dropped their price target on Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT opened at $224.83 on Monday. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The firm has a 50 day moving average of $248.92 and a 200 day moving average of $244.28. Applied Industrial Technologies has a 52 week low of $177.68 and a 52 week high of $282.98.

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

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.82%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 18.64%.

Hedge Funds Weigh In On Applied Industrial Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in shares of Applied Industrial Technologies by 5,900.0% in the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 118 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter worth about $30,000. First Horizon Advisors Inc. raised its stake in shares of Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after buying an additional 88 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $44,000. Finally, Huntington National Bank boosted its stake in shares of Applied Industrial Technologies by 33.8% in the fourth quarter. Huntington National Bank now owns 186 shares of the industrial products company’s stock worth $45,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds 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.