KeyCorp Raises Applied Industrial Technologies (NYSE:AIT) Price Target to $210.00

Applied Industrial Technologies (NYSE:AIT - Get Free Report) had its price target raised by research analysts at KeyCorp from $195.00 to $210.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. KeyCorp's price objective would indicate a potential upside of 8.95% from the stock's current price.

Separately, Oppenheimer started coverage on Applied Industrial Technologies in a report on Tuesday, April 2nd. They set an "outperform" rating and a $235.00 price target for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $201.00.

Applied Industrial Technologies Stock Up 0.2 %

Applied Industrial Technologies stock traded up $0.43 during trading hours on Thursday, hitting $192.75. The company had a trading volume of 183,591 shares, compared to its average volume of 345,188. Applied Industrial Technologies has a fifty-two week low of $122.24 and a fifty-two week high of $201.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.74 and a quick ratio of 2.59. The firm has a market capitalization of $7.45 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 2.08 and a beta of 1.08. The firm's fifty day moving average is $189.58 and its 200-day moving average is $173.08.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.11 by $0.13. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the company posted $2.05 EPS. Applied Industrial Technologies's revenue was up 1.6% on a year-over-year basis. On average, research analysts forecast that Applied Industrial Technologies will post 9.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Warren E. Hoffner III sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total value of $364,680.00. Following the transaction, the vice president now directly owns 57,155 shares of the company's stock, valued at approximately $10,421,642.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company's stock.

Institutional Trading of Applied Industrial Technologies

Large investors have recently modified their holdings of the company. Raymond James & Associates boosted its stake in Applied Industrial Technologies by 13.1% during the 1st quarter. Raymond James & Associates now owns 14,939 shares of the industrial products company's stock valued at $1,534,000 after purchasing an additional 1,726 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Applied Industrial Technologies in the first quarter valued at approximately $271,000. Citigroup Inc. grew its stake in shares of Applied Industrial Technologies by 3.4% in the first quarter. Citigroup Inc. now owns 38,917 shares of the industrial products company's stock worth $3,995,000 after acquiring an additional 1,262 shares during the last quarter. Bank of Montreal Can increased its position in Applied Industrial Technologies by 35.6% during the first quarter. Bank of Montreal Can now owns 16,704 shares of the industrial products company's stock worth $1,702,000 after acquiring an additional 4,388 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Applied Industrial Technologies by 53.9% during the 1st quarter. MetLife Investment Management LLC now owns 20,446 shares of the industrial products company's stock valued at $2,099,000 after purchasing an additional 7,164 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

About Applied Industrial Technologies

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.