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Applied Industrial Technologies (NYSE:AIT - Get Rating) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday.

A number of other research firms have also weighed in on AIT. Robert W. Baird lowered shares of Applied Industrial Technologies from an "outperform" rating to a "neutral" rating and upped their target price for the stock from $115.00 to $129.00 in a report on Friday, August 12th. KeyCorp lifted their price objective on Applied Industrial Technologies from $120.00 to $140.00 and gave the company an "overweight" rating in a research note on Friday, August 12th.Applied Industrial Technologies Stock Up 0.9 %

AIT stock opened at $111.43 on Wednesday. Applied Industrial Technologies has a fifty-two week low of $80.93 and a fifty-two week high of $121.20. The stock has a fifty day moving average of $98.77 and a 200-day moving average of $100.40. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 16.91 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 2.72.

Applied Industrial Technologies (NYSE:AIT - Get Rating) last posted its 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. Applied Industrial Technologies had a net margin of 6.76% and a return on equity of 24.25%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $977.43 million. During the same quarter last year, the company earned $1.51 earnings per share. The company's revenue was up 18.5% on a year-over-year basis. As a group, equities research analysts predict that Applied Industrial Technologies will post 7.3 earnings per share for the current year. Insiders Place Their Bets

In related news, Director Vincent K. Petrella sold 3,114 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $114.76, for a total transaction of $357,362.64. Following the transaction, the director now owns 18,666 shares of the company's stock, valued at approximately $2,142,110.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by insiders. Institutional Investors Weigh In On Applied Industrial Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at about $30,000. Rockefeller Capital Management L.P. grew its position in shares of Applied Industrial Technologies by 38.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company's stock worth $52,000 after buying an additional 141 shares during the last quarter. Pinebridge Investments L.P. increased its stake in shares of Applied Industrial Technologies by 452.0% during the second quarter. Pinebridge Investments L.P. now owns 552 shares of the industrial products company's stock valued at $53,000 after buying an additional 452 shares during the period. CWM LLC raised its holdings in shares of Applied Industrial Technologies by 61.8% during the first quarter. CWM LLC now owns 526 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 201 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Applied Industrial Technologies by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 735 shares of the industrial products company's stock valued at $71,000 after acquiring an additional 544 shares in the last quarter. Institutional investors own 92.88% of the company's stock. About Applied Industrial Technologies (Get Rating)

Applied Industrial Technologies, Inc distributes industrial products 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, 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, as well as other related supplies for general operational needs of customers' machinery and equipment.Further ReadingGet a free copy of the StockNews.com research report on Applied Industrial Technologies (AIT)Are Ocugen or Amarin Good Penny Stocks to Buy? Are These 2 Fintechs A Buy After Q2 Earnings? Chipotle is Cooking Up Another Run at $2,000Is Fisker Ready to Re-Emerge as the Tesla Killer? Dick’s Sporting Goods Lifted By Institutional Shift 

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