Applied Industrial Technologies (NYSE:AIT) has earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $71.00.

Several analysts have recently weighed in on AIT shares. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Thursday, January 11th. Wellington Shields raised shares of Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a report on Wednesday, December 27th. Finally, ValuEngine cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th.

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Applied Industrial Technologies (AIT) opened at $74.55 on Monday. The company has a current ratio of 3.33, a quick ratio of 1.90 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2,883.22, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.80 and a beta of 0.97. Applied Industrial Technologies has a twelve month low of $54.00 and a twelve month high of $75.35.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, January 25th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.06. The business had revenue of $667.19 million for the quarter, compared to the consensus estimate of $651.05 million. Applied Industrial Technologies had a net margin of 5.43% and a return on equity of 16.53%. equities research analysts predict that Applied Industrial Technologies will post 3.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th were paid a $0.30 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 1.61%. The ex-dividend date was Wednesday, February 14th. Applied Industrial Technologies’s payout ratio is currently 32.09%.

In other Applied Industrial Technologies news, Director Green Edith Kelly sold 6,873 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $74.41, for a total value of $511,419.93. Following the transaction, the director now directly owns 24,230 shares of the company’s stock, valued at approximately $1,802,954.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd A. Barlett sold 3,800 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $75.00, for a total transaction of $285,000.00. Following the completion of the transaction, the vice president now directly owns 90,155 shares in the company, valued at $6,761,625. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AIT. Point72 Asset Management L.P. acquired a new stake in Applied Industrial Technologies in the third quarter valued at approximately $6,343,000. 361 Capital LLC bought a new position in Applied Industrial Technologies in the third quarter valued at $2,006,000. California Public Employees Retirement System increased its stake in Applied Industrial Technologies by 3.5% in the third quarter. California Public Employees Retirement System now owns 118,580 shares of the industrial products company’s stock valued at $7,803,000 after acquiring an additional 3,980 shares during the last quarter. Rhumbline Advisers increased its stake in Applied Industrial Technologies by 2.1% in the third quarter. Rhumbline Advisers now owns 82,636 shares of the industrial products company’s stock valued at $5,437,000 after acquiring an additional 1,695 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Applied Industrial Technologies by 45.3% in the third quarter. Wells Fargo & Company MN now owns 369,137 shares of the industrial products company’s stock valued at $24,288,000 after acquiring an additional 115,166 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors.

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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.

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