News coverage about Applied Industrial Technologies (NYSE:AIT) has been trending positive recently, according to Accern Sentiment Analysis. The research firm ranks the sentiment of press coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Applied Industrial Technologies earned a news sentiment score of 0.28 on Accern’s scale. Accern also assigned news coverage about the industrial products company an impact score of 46.1813727396725 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
A number of analysts have weighed in on AIT shares. Zacks Investment Research upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Tuesday, January 23rd. ValuEngine upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Wellington Shields upgraded Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $71.00.
Applied Industrial Technologies stock opened at $74.00 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.33 and a quick ratio of 1.90. The company has a market capitalization of $2,861.93, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. Applied Industrial Technologies has a one year low of $54.00 and a one year high of $75.40.
The firm 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. The ex-dividend date was Wednesday, February 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.29. 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 stock was sold at an average price of $74.41, for a total value of $511,419.93. Following the transaction, the director now owns 24,230 shares of the company’s stock, valued at $1,802,954.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Todd A. Barlett sold 3,800 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $75.00, for a total value of $285,000.00. Following the transaction, the vice president now directly owns 90,155 shares in the company, valued at approximately $6,761,625. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.
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Applied Industrial Technologies Company Profile
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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