Applied Industrial Technologies (NYSE:AIT) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $65.00.

A number of equities analysts recently issued reports on AIT shares. Longbow Research upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Friday, March 8th. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd.

A number of hedge funds have recently added to or reduced their stakes in the stock. FinTrust Capital Advisors LLC increased its position in Applied Industrial Technologies by 174.8% in the 1st quarter. FinTrust Capital Advisors LLC now owns 437 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 278 shares during the period. BlueMountain Capital Management LLC acquired a new position in Applied Industrial Technologies in the 1st quarter valued at approximately $77,000. Ladenburg Thalmann Financial Services Inc. increased its position in Applied Industrial Technologies by 119.2% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,710 shares of the industrial products company’s stock valued at $101,000 after acquiring an additional 930 shares during the period. Quantamental Technologies LLC acquired a new position in Applied Industrial Technologies in the 4th quarter valued at approximately $113,000. Finally, First Mercantile Trust Co. increased its position in Applied Industrial Technologies by 11.1% in the 4th quarter. First Mercantile Trust Co. now owns 2,200 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

AIT stock opened at $55.34 on Monday. The company has a market cap of $2.18 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.03 and a beta of 1.27. Applied Industrial Technologies has a 1 year low of $50.56 and a 1 year high of $82.35. The company has a quick ratio of 1.61, a current ratio of 2.70 and a debt-to-equity ratio of 1.06.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Friday, April 26th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.01). The company had revenue of $885.44 million for the quarter, compared to analyst estimates of $891.73 million. Applied Industrial Technologies had a return on equity of 20.06% and a net margin of 4.14%. Applied Industrial Technologies’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 earnings per share. As a group, research analysts expect that Applied Industrial Technologies will post 4.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio is 33.16%.

About Applied Industrial Technologies

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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