4 hours Ago By Defense World Staff
Raymond James reaffirmed their outperform rating on shares of Applied Industrial Technologies ( NYSE:AIT – Free Report ) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $265.00 price target on the industrial products company’s stock, up from their previous price target of $250.
00. AIT has been the topic of a number of other reports. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $285.
00 to $315.00 in a report on Tuesday, November 26th. Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $260.
00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. KeyCorp raised 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. Loop Capital lifted their target price on Applied Industrial Technologies from $230.
00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, StockNews.
com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $291.
43. Get Our Latest Report on Applied Industrial Technologies Applied Industrial Technologies Trading Down 1.3 % Applied Industrial Technologies ( NYSE:AIT – Get Free Report ) last issued its quarterly earnings results on Wednesday, January 29th.
The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.
18. Applied Industrial Technologies had a return on equity of 22.67% and a net margin of 8.
62%. As a group, research analysts anticipate that Applied Industrial Technologies will post 9.77 EPS for the current fiscal year.
Applied Industrial Technologies Increases Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.46 dividend.
This is a boost 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 yield of 0.71%.
Applied Industrial Technologies’s payout ratio is 14.99%. Insider Activity In related news, VP Warren E.
Hoffner III sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total transaction of $1,126,560.
00. Following the completion of the transaction, the vice president now directly owns 55,709 shares in the company, valued at $15,689,882.76.
This represents a 6.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink .
Also, Director Mary Dean Hall sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.
00. Following the completion of the sale, the director now owns 3,462 shares in the company, valued at $952,326.96.
This represents a 38.86 % decrease in their position. The disclosure for this sale can be found here .
Corporate insiders own 1.67% of the company’s stock. Hedge Funds Weigh In On Applied Industrial Technologies Several large investors have recently bought and sold shares of AIT.
Zurich Insurance Group Ltd FI bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $84,139,000. Westfield Capital Management Co. LP acquired a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth approximately $32,233,000.
Fiera Capital Corp increased its stake in shares of Applied Industrial Technologies by 456.3% in the 3rd quarter. Fiera Capital Corp now owns 130,895 shares of the industrial products company’s stock valued at $29,207,000 after acquiring an additional 107,365 shares in the last quarter.
International Assets Investment Management LLC acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at $213,590,000. Finally, Eagle Asset Management Inc. bought a new position in Applied Industrial Technologies during the third quarter worth $13,034,000.
93.52% of the stock is currently owned by institutional investors. Applied Industrial Technologies Company Profile ( Get Free Report ) 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. Featured Articles Five stocks we like better than Applied Industrial Technologies REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today ServiceNow Stock Slips, But AI Expansion Signals Long-Term Gains Manufacturing Stocks Investing Microsoft and Meta’s AI Investment Plans Are Full Steam Ahead Quiet Period Expirations Explained Beyond Self-Driving Cars: Factory Automation Takes Center Stage Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.
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