4 hours Ago By ABMN Staff
Raymond James reiterated their outperform rating on shares of Applied Industrial Technologies ( NYSE:AIT – Free Report ) in a research note released on Thursday, Benzinga reports. They currently have a $265.00 price objective on the industrial products company’s stock, up from their previous price objective of $250.
00. Several other brokerages have also recently issued reports on AIT. Robert W.
Baird lifted their target price on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th.
Oppenheimer lifted their price objective 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 company an “overweight” rating in a report on Tuesday, December 3rd.
Loop Capital raised their price target on shares of 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, Bank of America raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $285.00 to $315.00 in a research report on Tuesday, November 26th.
Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $291.43.
Check Out Our Latest Stock Report on Applied Industrial Technologies Applied Industrial Technologies Stock Down 1.3 % Applied Industrial Technologies ( NYSE:AIT – Get Free Report ) last announced its quarterly earnings results 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 22.67%.
On average, equities research analysts forecast that Applied Industrial Technologies will post 9.77 EPS for the current fiscal year. Applied Industrial Technologies Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th.
Shareholders of record on Friday, February 14th will be given a $0.46 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.
37. The ex-dividend date is Friday, February 14th. This represents a $1.
84 annualized dividend and a yield of 0.71%. Applied Industrial Technologies’s payout ratio is currently 14.
99%. Insider Buying and Selling at Applied Industrial Technologies In other news, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $275.
08, for a total value of $605,176.00. Following the completion of the transaction, the director now owns 3,462 shares in the company, valued at $952,326.
96. This trade represents a 38.86 % decrease in their ownership of the stock.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website . Also, 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 sale, the vice president now owns 55,709 shares in the company, valued at $15,689,882.76. The trade was a 6.
70 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Corporate insiders own 1.
67% of the company’s stock. Institutional Inflows and Outflows A number of hedge funds have recently bought and sold shares of AIT. Zurich Insurance Group Ltd FI purchased a new stake in Applied Industrial Technologies during the 3rd quarter worth about $84,139,000.
Westfield Capital Management Co. LP purchased a new stake in Applied Industrial Technologies in the third quarter valued at approximately $32,233,000. Fiera Capital Corp increased its holdings 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 worth $29,207,000 after buying an additional 107,365 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Applied Industrial Technologies during the third quarter valued at about $213,590,000.
Finally, Eagle Asset Management Inc. purchased a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at about $13,034,000. 93.
52% of the stock is currently owned by hedge funds and other institutional investors. About Applied Industrial Technologies ( 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 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.com's FREE daily email newsletter .
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