Applied Industrial Technologies, Inc. (AIT) Has Wedge Up Chart Pattern Trading At $73.45

April 17, 2018 - By Andrea Pope

Applied Industrial Technologies, Inc. (NYSE:AIT) Corporate Logo

During 2017 Q4 the big money sentiment decreased to 1.18. That’s change of 0.03, from 2017Q3’s 1.21. 19 investors sold all, 70 reduced holdings as Applied Industrial Technologies, Inc. ratio dropped. 68 rose holdings while 37 funds acquired holdings. Funds hold 31.81 million shares thus 1.73% less from 2017Q3’s 32.37 million shares.
Pnc Finance Service Gru holds 24,417 shs. Jpmorgan Chase And holds 1.94 million shs or 0.03% of its capital. Koch Indus stated it has 0.03% in Applied Industrial Technologies, Inc. (NYSE:AIT). Massachusetts-based Martingale Asset Mngmt Limited Partnership has invested 0.08% in Applied Industrial Technologies, Inc. (NYSE:AIT). Fuller Thaler Asset Mgmt Incorporated reported 378,034 shs. Legal And General Gru Public Limited Company reported 0% of its capital in Applied Industrial Technologies, Inc. (NYSE:AIT). 4,570 are owned by Riverhead Capital Mgmt. Parametrica Mgmt owns 0.13% invested in Applied Industrial Technologies, Inc. (NYSE:AIT) for 3,016 shs. State Of Alaska Department Of Revenue, a Alaska-based fund reported 7,732 shs. D E Shaw Company Inc invested in 0% or 28,194 shs. Adage Grp Inc Inc Limited Liability Corporation holds 0.07% or 423,489 shs. Clark Cap Gru has 0.12% invested in Applied Industrial Technologies, Inc. (NYSE:AIT). Millennium Management Limited Liability Corp owns 338,739 shs or 0.03% of their US capital. Morgan Stanley has 228,836 shs. Louisiana State Employees Retirement Systems holds 0.05% of its capital in Applied Industrial Technologies, Inc. (NYSE:AIT) for 16,700 shs.

Applied Industrial Technologies, Inc. had 4 insider sales and 0 insider buys since February 2, 2018. This’s net activity of $1.42 million. The insider KELLY GREEN EDITH sold 6,873 shs worth $511,404. BAUER FRED D sold $375,000 worth of stock or 5,000 shs. On Friday, February 2 BARLETT TODD A had sold 3,800 shs worth $285,000.

Applied Industrial Technologies, Inc. (AIT) formed an up wedge chart setup with $77.12 price target. That’s 5.00 % above today’s $73.45 share price. If our $77.12 price target is reached AIT’s valuation can change by $142.05M.

The stock increased 0.27% or $0.2 during the last trading session, reaching $73.45.Currently Applied Industrial Technologies, Inc. is uptrending after 19.34% change in last April 17, 2017. AIT has 20,505 shares volume. AIT outperformed the S&P 500 by 7.79%.

Analysts await Applied Industrial Technologies, Inc. (NYSE:AIT) to report earnings on April, 26. They expect $0.93 EPS, up 24.00 % or $0.18 from last year’s $0.75 per share. AIT’s profit will be $35.97 million for 19.74 P/E if the $0.93 EPS becomes a reality. After $0.77 actual EPS reported by Applied Industrial Technologies, Inc. for the previous quarter, Wall Street now forecasts 20.78 % EPS growth.

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