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Applied Industrial Technologies (NYSE:AIT - Get Rating) had its target price cut by equities researchers at KeyCorp from $140.00 to $130.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. KeyCorp's price target would indicate a potential upside of 31.85% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird downgraded Applied Industrial Technologies from an "outperform" rating to a "neutral" rating and lifted their price objective for the company from $115.00 to $129.00 in a research report on Friday, August 12th. StockNews.com downgraded Applied Industrial Technologies from a "strong-buy" rating to a "buy" rating in a research report on Tuesday.Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $98.60 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 2.72. The stock has a fifty day moving average price of $105.16 and a 200 day moving average price of $101.69. The stock has a market cap of $3.80 billion, a PE ratio of 14.96 and a beta of 1.19. Applied Industrial Technologies has a 1 year low of $88.09 and a 1 year high of $121.20.

Applied Industrial Technologies (NYSE:AIT - Get Rating) last released its quarterly earnings results on Thursday, August 11th. The industrial products company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.36. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $977.43 million. Applied Industrial Technologies had a return on equity of 24.25% and a net margin of 6.76%. Applied Industrial Technologies's revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.51 earnings per share. Sell-side analysts forecast that Applied Industrial Technologies will post 7.3 earnings per share for the current fiscal year. Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Vincent K. Petrella sold 3,114 shares of the company's stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $114.76, for a total transaction of $357,362.64. Following the sale, the director now owns 18,666 shares in the company, valued at $2,142,110.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 7,146 shares of the company's stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $112.66, for a total transaction of $805,068.36. Following the sale, the vice president now owns 24,632 shares in the company, valued at $2,775,041.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vincent K. Petrella sold 3,114 shares of the company's stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $114.76, for a total value of $357,362.64. Following the sale, the director now owns 18,666 shares in the company, valued at approximately $2,142,110.16. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders. Hedge Funds Weigh In On Applied Industrial Technologies

Several institutional investors have recently made changes to their positions in AIT. Rockefeller Capital Management L.P. grew its holdings in shares of Applied Industrial Technologies by 38.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company's stock valued at $52,000 after purchasing an additional 141 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in Applied Industrial Technologies by 452.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 552 shares of the industrial products company's stock worth $53,000 after buying an additional 452 shares in the last quarter. CWM LLC grew its holdings in Applied Industrial Technologies by 61.8% in the 1st quarter. CWM LLC now owns 526 shares of the industrial products company's stock worth $54,000 after buying an additional 201 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Applied Industrial Technologies by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 735 shares of the industrial products company's stock worth $71,000 after buying an additional 544 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Applied Industrial Technologies in the 4th quarter worth approximately $93,000. 93.10% of the stock is owned by institutional investors. Applied Industrial Technologies Company Profile (Get Rating)

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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.Read MoreGet a free copy of the StockNews.com research report on Applied Industrial Technologies (AIT)Defensive Stocks For A Volatile MarketWill UPS Be Next to Deliver a Warning?SunPower Is Ready To Power Up Triple-Digit Earnings GainsIs This the Darkest Before the Dawn for Gap Stock?Build A Better Tech Portfolio With Jabil Inc.

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