Applied Industrial Technologies, Inc. (NYSE:AIT) – Analysts at KeyCorp decreased their FY2018 earnings estimates for shares of Applied Industrial Technologies in a report issued on Sunday. KeyCorp analyst S. Barger now expects that the industrial products company will earn $3.03 per share for the year, down from their previous estimate of $3.05.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.56. The company had revenue of $681.47 million for the quarter, compared to the consensus estimate of $680.20 million. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS.

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Other equities research analysts have also issued research reports about the company. BidaskClub lowered Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Wells Fargo & Company reissued a “market perform” rating and issued a $63.00 target price (down previously from $67.00) on shares of Applied Industrial Technologies in a research report on Wednesday, July 12th. Northcoast Research assumed coverage on Applied Industrial Technologies in a research report on Tuesday, July 25th. They issued a “neutral” rating on the stock. ValuEngine lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $66.00.

Shares of Applied Industrial Technologies (AIT) traded down 0.196% during trading on Wednesday, hitting $63.625. The stock had a trading volume of 65,451 shares. Applied Industrial Technologies has a 1-year low of $43.50 and a 1-year high of $69.00. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 18.713 and a beta of 0.95. The firm has a 50 day moving average of $60.49 and a 200 day moving average of $59.99.

In other Applied Industrial Technologies news, VP Mark O. Eisele sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $56.92, for a total transaction of $341,520.00. Following the transaction, the vice president now owns 159,029 shares of the company’s stock, valued at approximately $9,051,930.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark O. Eisele sold 4,939 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.91, for a total value of $276,139.49. Following the transaction, the vice president now directly owns 106,090 shares in the company, valued at approximately $5,931,491.90. The disclosure for this sale can be found here. In the last three months, insiders sold 73,571 shares of company stock worth $4,070,841. 3.70% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of AIT. BlackRock Inc. increased its position in shares of Applied Industrial Technologies by 84,093.2% during the 1st quarter. BlackRock Inc. now owns 5,566,855 shares of the industrial products company’s stock worth $344,310,000 after purchasing an additional 5,560,243 shares during the last quarter. Koch Industries Inc. increased its position in shares of Applied Industrial Technologies by 8,147.3% during the 2nd quarter. Koch Industries Inc. now owns 297,728 shares of the industrial products company’s stock worth $293,000 after purchasing an additional 294,118 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Applied Industrial Technologies by 51.0% during the 2nd quarter. Principal Financial Group Inc. now owns 717,817 shares of the industrial products company’s stock worth $42,387,000 after purchasing an additional 242,556 shares during the last quarter. AJO LP acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $11,749,000. Finally, Vanguard Group Inc. increased its position in shares of Applied Industrial Technologies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 3,495,544 shares of the industrial products company’s stock worth $216,199,000 after purchasing an additional 174,201 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

About Applied Industrial Technologies

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.

Earnings History and Estimates for Applied Industrial Technologies (NYSE:AIT)

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