Fintel reports that on November 26, 2024, B of A Securities upgraded their outlook for Applied Industrial Technologies (NYSE:AIT) from Neutral to Buy.
Analyst Price Forecast Suggests 1.92% Downside
As of November 21, 2024, the average one-year price target for Applied Industrial Technologies is $273.21/share. The forecasts range from a low of $242.40 to a high of $320.25. The average price target represents a decrease of 1.92% from its latest reported closing price of $278.55 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Applied Industrial Technologies is 4,342MM, a decrease of 3.15%. The projected annual non-GAAP EPS is 8.53.
What is the Fund Sentiment?
There are 985 funds or institutions reporting positions in Applied Industrial Technologies. This is an increase of 21 owner(s) or 2.18% in the last quarter. Average portfolio weight of all funds dedicated to AIT is 0.34%, an increase of 5.10%. Total shares owned by institutions decreased in the last three months by 7.54% to 47,380K shares. 
The put/call ratio of AIT is 0.86, indicating a bullish outlook.
What are Other Shareholders Doing?
BlackRock holds 4,829K shares representing 12.56% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,217K shares representing 3.17% ownership of the company. In its prior filing, the firm reported owning 1,215K shares , representing an increase of 0.19%. The firm decreased its portfolio allocation in AIT by 4.32% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,201K shares representing 3.12% ownership of the company. In its prior filing, the firm reported owning 1,204K shares , representing a decrease of 0.26%. The firm increased its portfolio allocation in AIT by 0.26% over the last quarter.
Jpmorgan Chase holds 1,192K shares representing 3.10% ownership of the company. In its prior filing, the firm reported owning 1,335K shares , representing a decrease of 12.01%. The firm decreased its portfolio allocation in AIT by 93.58% over the last quarter.
Invesco holds 1,186K shares representing 3.09% ownership of the company. In its prior filing, the firm reported owning 877K shares , representing an increase of 26.05%. The firm decreased its portfolio allocation in AIT by 87.79% over the last quarter.
Applied Industrial Technologies Background Information
(This description is provided by the company.)
Applied Industrial Technologies is a leading value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. Applied® leading brands, specialized services, and comprehensive knowledge serve MRO and OEM end users in virtually all industrial markets through our multi-channel capabilities that provide choice, convenience, and expertise.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
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This story originally appeared on Fintel.
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