Applied Industrial Technologies, Inc. (NYSE:AIT) Receives Average Rating of “Moderate Buy” from Analysts

Applied Industrial Technologies, Inc. (NYSE:AIT) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $290.6250.

AIT has been the topic of a number of recent research reports. KeyCorp decreased their target price on Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, January 28th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Mizuho set a $305.00 target price on Applied Industrial Technologies in a research note on Wednesday, October 29th. Finally, Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st.

Applied Industrial Technologies Stock Performance

Shares of AIT stock traded up $0.43 on Thursday, hitting $290.74. 15,595 shares of the stock traded hands, compared to its average volume of 380,188. The company’s fifty day moving average is $268.95 and its 200 day moving average is $262.74. Applied Industrial Technologies has a 1-year low of $199.96 and a 1-year high of $296.70. The company has a market capitalization of $10.84 billion, a PE ratio of 27.96, a PEG ratio of 2.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $2.39 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, equities research analysts predict that Applied Industrial Technologies will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.51 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date is Friday, February 13th. This represents a $2.04 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is currently 17.51%.

Insider Buying and Selling at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the sale, the vice president directly owned 52,751 shares in the company, valued at $15,224,993.62. This trade represents a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil A. Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value of $5,490,320.95. Following the sale, the chief executive officer directly owned 130,528 shares in the company, valued at $37,311,428.80. The trade was a 12.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,654 shares of company stock worth $8,212,829. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of Applied Industrial Technologies by 0.9% in the 4th quarter. Swiss National Bank now owns 74,440 shares of the industrial products company’s stock worth $19,114,000 after buying an additional 640 shares in the last quarter. Aviva PLC grew its holdings in Applied Industrial Technologies by 5.6% during the fourth quarter. Aviva PLC now owns 1,919 shares of the industrial products company’s stock worth $493,000 after acquiring an additional 102 shares during the period. GW&K Investment Management LLC raised its holdings in shares of Applied Industrial Technologies by 2.5% in the 4th quarter. GW&K Investment Management LLC now owns 216,509 shares of the industrial products company’s stock worth $55,594,000 after purchasing an additional 5,327 shares in the last quarter. Gaddis Premier Wealth Advisors LLC bought a new position in shares of Applied Industrial Technologies in the fourth quarter valued at $608,000. Finally, Cerity Partners LLC lifted its holdings in shares of Applied Industrial Technologies by 4.7% during the fourth quarter. Cerity Partners LLC now owns 15,999 shares of the industrial products company’s stock valued at $4,108,000 after purchasing an additional 725 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.