Applied Industrial Technologies, Inc. (NYSE:AIT) Receives $294.38 Consensus PT from Brokerages

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $294.3750.

AIT has been the topic of several recent analyst reports. Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. KeyCorp lifted their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $265.10 on Friday. Applied Industrial Technologies has a 12-month low of $199.96 and a 12-month high of $296.70. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 2.47 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. The firm’s fifty day moving average price is $272.57 and its 200 day moving average price is $263.78.

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

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s payout ratio is presently 19.41%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. This trade represents a 27.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil A. Schrimsher sold 19,207 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the completion of the sale, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at $37,311,428.80. The trade was a 12.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,654 shares of company stock valued at $8,212,829 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of hedge funds have recently bought and sold shares of AIT. Capital International Investors raised its position in shares of Applied Industrial Technologies by 25.4% during the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock valued at $247,250,000 after acquiring an additional 195,043 shares in the last quarter. First Trust Advisors LP lifted its stake in Applied Industrial Technologies by 22.7% during the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after purchasing an additional 172,857 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Applied Industrial Technologies by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after purchasing an additional 6,953 shares during the period. Dimensional Fund Advisors LP increased its stake in Applied Industrial Technologies by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock valued at $185,833,000 after purchasing an additional 3,348 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Applied Industrial Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock valued at $176,479,000 after purchasing an additional 1,889 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

About Applied Industrial Technologies

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.