Applied Industrial Technologies (AIT) Forecasted to Post FY2019 Earnings of $4.79 Per Share

Applied Industrial Technologies (NYSE:AIT) – Stock analysts at KeyCorp raised their FY2019 earnings per share estimates for Applied Industrial Technologies in a report released on Wednesday, October 31st. KeyCorp analyst S. Barger now forecasts that the industrial products company will post earnings per share of $4.79 for the year, up from their previous forecast of $4.64.

AIT has been the topic of a number of other research reports. ValuEngine raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Northcoast Research reaffirmed a “neutral” rating on shares of Applied Industrial Technologies in a research report on Friday, August 10th. Wellington Shields raised shares of Applied Industrial Technologies from a “gradually accumulate” rating to a “buy” rating in a research report on Monday, August 13th. Finally, Wells Fargo & Co boosted their target price on shares of Applied Industrial Technologies from $73.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $79.00.

NYSE:AIT opened at $66.84 on Monday. Applied Industrial Technologies has a 12 month low of $59.65 and a 12 month high of $82.35. The company has a market capitalization of $2.59 billion, a PE ratio of 17.87, a PEG ratio of 1.16 and a beta of 1.12. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.47 and a current ratio of 2.76.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.12. Applied Industrial Technologies had a net margin of 4.82% and a return on equity of 19.66%. The company had revenue of $864.50 million for the quarter, compared to analyst estimates of $874.74 million. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 27.0% compared to the same quarter last year.

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank increased its position in Applied Industrial Technologies by 13.0% during the second quarter. Amalgamated Bank now owns 6,223 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 715 shares during the period. Piedmont Investment Advisors LLC boosted its stake in Applied Industrial Technologies by 9.0% during the second quarter. Piedmont Investment Advisors LLC now owns 9,009 shares of the industrial products company’s stock worth $632,000 after buying an additional 743 shares in the last quarter. LPL Financial LLC boosted its stake in Applied Industrial Technologies by 28.9% during the first quarter. LPL Financial LLC now owns 4,010 shares of the industrial products company’s stock worth $288,000 after buying an additional 900 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in Applied Industrial Technologies by 5.5% during the second quarter. MetLife Investment Advisors LLC now owns 17,422 shares of the industrial products company’s stock worth $1,222,000 after buying an additional 903 shares in the last quarter. Finally, Summit Global Investments boosted its stake in Applied Industrial Technologies by 12.2% during the second quarter. Summit Global Investments now owns 9,200 shares of the industrial products company’s stock worth $645,000 after buying an additional 1,000 shares in the last quarter. 89.36% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director L Thomas Hiltz sold 12,500 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $77.15, for a total transaction of $964,375.00. Following the transaction, the director now owns 1,544 shares of the company’s stock, valued at $119,119.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.10% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, November 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 32.09%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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

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