Applied Industrial Technologies (NYSE:AIT) Reaches New 1-Year High – Here’s Why

Applied Industrial Technologies, Inc. (NYSE:AIT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $296.70 and last traded at $293.8650, with a volume of 8622 shares changing hands. The stock had previously closed at $290.31.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AIT. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. KeyCorp lowered their price objective on shares of 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. Finally, Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $290.63.

Applied Industrial Technologies Stock Down 3.2%

The firm has a 50-day moving average price of $268.95 and a two-hundred day moving average price of $262.74. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 2.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $2.39 earnings per share. The firm’s quarterly revenue 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, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, February 13th. This represents a $2.04 annualized dividend and a yield of 0.7%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio (DPR) is 17.51%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the transaction, the vice president owned 52,751 shares in the company, valued at $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the transaction, the vice president directly owned 14,491 shares in the company, valued at approximately $4,171,524.17. The trade was a 27.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,654 shares of company stock valued at $8,212,829 over the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in shares of Applied Industrial Technologies by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares during the period. Empowered Funds LLC purchased a new position in Applied Industrial Technologies during the 1st quarter worth $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Applied Industrial Technologies by 12.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock valued at $22,162,000 after purchasing an additional 10,863 shares during the period. Focus Partners Wealth increased its stake in Applied Industrial Technologies by 4.5% in the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 58 shares during the period. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of Applied Industrial Technologies by 6.2% in the second quarter. Concurrent Investment Advisors LLC now owns 1,502 shares of the industrial products company’s stock valued at $349,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.