Stock Mover of The Day: Time to Reconsider Applied Industrial Technologies After Reaching All Time High?

Stock Mover of The Day: Time to Reconsider Applied Industrial Technologies After Reaching All Time High?

The stock of Applied Industrial Technologies (NYSE:AIT) reached all time high today, Nov, 21 and still has $73.98 target or 27.00% above today’s $58.25 share price. This indicates more upside for the $2.29 billion company. This technical setup was reported by Barchart.com. If the $73.98 PT is reached, the company will be worth $618.30 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 172,986 shares traded hands. Applied Industrial Technologies (NYSE:AIT) has risen 27.50% since April 19, 2016 and is uptrending. It has outperformed by 23.64% the S&P500.

Applied Industrial Technologies (NYSE:AIT) Ratings Coverage

Out of 3 analysts covering Applied Industrial Technologies (NYSE:AIT), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. Applied Industrial Technologies has been the topic of 4 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Applied Industrial Technologies (NYSE:AIT) earned “Sector Weight” rating by KeyBanc Capital Markets on Tuesday, July 21. The stock of Applied Industrial Technologies (NYSE:AIT) has “Market Perform” rating given on Monday, March 21 by Avondale. The firm has “Hold” rating given on Monday, October 26 by BB&T Capital. Longbow upgraded Applied Industrial Technologies (NYSE:AIT) on Wednesday, August 12 to “Underperform” rating.

According to Zacks Investment Research, “Applied Industrial Technologies is one of North America’s leading distributors of bearings, linear technologies, power transmission components, rubber products, specialty maintenance items and electrical/mechanical and fluid power products and systems to the MRO (maintenance and repair operations) and OEM (original equipment manufacturer) markets. The company offers products to a broad cross-section of U.S. industries.”

Insitutional Activity: The institutional sentiment decreased to 0.94 in 2016 Q2. Its down 0.13, from 1.07 in 2016Q1. The ratio worsened, as 15 funds sold all Applied Industrial Technologies shares owned while 61 reduced positions. 25 funds bought stakes while 56 increased positions. They now own 31.62 million shares or 4.50% less from 33.11 million shares in 2016Q1.
Alexandria Limited Liability Corporation has 853 shares for 0.01% of their US portfolio. Blackrock Group Ltd reported 52,244 shares or 0% of all its holdings. Anchor Bolt Lp last reported 0.2% of its portfolio in the stock. Blackrock Fund Advisors holds 0.03% of its portfolio in Applied Industrial Technologies (NYSE:AIT) for 2.52M shares. Envestnet Asset Mgmt Inc holds 0% or 1,843 shares in its portfolio. Wells Fargo Commerce Mn holds 258,928 shares or 0% of its portfolio. Lucus Advsr Limited Liability Corporation accumulated 7,820 shares or 0.29% of the stock. Ubs Asset Management Americas Inc accumulated 23,957 shares or 0% of the stock. Pdt Prtn Lc last reported 27,801 shares in the company. Stevens Lp has 19,846 shares for 0.04% of their US portfolio. Stifel Financial accumulated 0% or 6,198 shares. First Trust Advisors Lp accumulated 0% or 23,261 shares. Quantbot Technologies Lp accumulated 0.01% or 2,206 shares. Piermont Capital Mgmt Incorporated has invested 0.22% of its portfolio in Applied Industrial Technologies (NYSE:AIT). Texas Permanent School Fund has 0.02% invested in the company for 29,841 shares.

Insider Transactions: Since November 9, 2016, the stock had 0 buys, and 3 selling transactions for $683,464 net activity. $182,930 worth of Applied Industrial Technologies (NYSE:AIT) was sold by DORSMAN PETER A. On Thursday, November 10 the insider HILTZ L THOMAS sold $272,164. $228,370 worth of Applied Industrial Technologies (NYSE:AIT) was sold by BAUER FRED D on Wednesday, November 9.

More notable recent Applied Industrial Technologies (NYSE:AIT) news were published by: Nasdaq.com which released: “Applied Industrial Hits 52-Week High on Solid Q1 & Outlook” on November 21, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: Jabil Circuit, Applied Industrial Technologies and R.R …” published on August 09, 2016, Nasdaq.com published: “Ex-Dividend Reminder: Jabil Circuit, Applied Industrial Technologies and MAXIMUS” on November 08, 2016. More interesting news about Applied Industrial Technologies (NYSE:AIT) were released by: Seekingalpha.com and their article: “Applied Industrial Technologies (AIT) Q1 2017 Results – Earnings Call Transcript” published on October 26, 2016 as well as Seekingalpha.com‘s news article titled: “Applied Industrial Technologies (AIT) Neil A. Schrimsher on Q3 2016 Results …” with publication date: April 28, 2016.

AIT Company Profile

Applied Industrial Technologies, Inc., incorporated on September 6, 1988, is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and activities (MRO), and original equipment manufacturing (OEM) clients 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. The Firm also provides product-related technical application support and solutions to help clients manage their production downtime, machine performance, and overall procurement and maintenance costs. It operates in two divisions: service center distribution and fluid power businesses. The service center distribution segment provides clients with a range of industrial products primarily through a network of service centers. The fluid power businesses segment consists of specialized regional companies that distribute fluid power components, design and assemble fluid power systems and perform equipment repair. The fluid power businesses primarily sell services and products directly to clients rather than through the service centers. The Company’s field operating structure is built on two platforms: service center distribution and fluid power businesses.

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