Applied Industrial Technologies (NYSE:AIT – Get Free Report) issued its quarterly earnings data on Tuesday. The industrial products company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.08, Zacks reports. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%.
Applied Industrial Technologies Stock Performance
NYSE:AIT opened at $325.46 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The company has a fifty day moving average of $332.15 and a two-hundred day moving average of $308.38. The stock has a market capitalization of $11.95 billion, a PE ratio of 28.92, a P/E/G ratio of 2.54 and a beta of 0.85. Applied Industrial Technologies has a fifty-two week low of $238.72 and a fifty-two week high of $374.80.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on AIT. Oppenheimer raised their target price on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Sunday, October 11th. Mizuho lowered their price target on Applied Industrial Technologies from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Bank of America increased their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, DA Davidson raised their price objective on Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $398.33.
View Our Latest Report on Applied Industrial Technologies
Insider Buying and Selling at Applied Industrial Technologies
In other news, Director Peter C. Wallace sold 1,904 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total transaction of $648,216.80. Following the completion of the sale, the director owned 22,859 shares of the company’s stock, valued at $7,782,346.55. The trade was a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David K. Wells sold 1,812 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. This trade represents a 5.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.60% of the company’s stock.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider of industrial motion, power transmission, fluid power, automation, and control products. Its offerings include bearings, mechanical power-transmission components, motors, gearboxes, hydraulic and pneumatic equipment, industrial hoses, process pumps, safety products, and related maintenance supplies.
The company also provides technical and engineering services designed to help customers improve equipment performance, reliability, and productivity.
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