Applied Industrial Technologies, Inc. (NYSE:AIT) Receives $323.14 Average Price Target from Brokerages

Applied Industrial Technologies, Inc. (NYSE:AIT) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $323.1429.

AIT has been the subject of several analyst reports. Oppenheimer increased their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research report on Wednesday, April 29th. DA Davidson assumed coverage on Applied Industrial Technologies in a research note on Tuesday, June 16th. They set a “buy” rating and a $380.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd.

Applied Industrial Technologies Stock Up 2.4%

Shares of NYSE AIT traded up $7.86 during mid-day trading on Friday, reaching $330.35. 281,663 shares of the company’s stock traded hands, compared to its average volume of 302,574. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The business has a 50-day simple moving average of $318.64 and a 200 day simple moving average of $289.99. The stock has a market cap of $12.21 billion, a P/E ratio of 31.19, a PEG ratio of 2.87 and a beta of 0.83. Applied Industrial Technologies has a 1-year low of $238.34 and a 1-year high of $345.48.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business posted $2.57 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. On average, analysts expect that Applied Industrial Technologies will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 19.26%.

Insider Transactions at Applied Industrial Technologies

In related news, Director Madhuri A. Andrews sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares in the company, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by company insiders.

Institutional Trading of Applied Industrial Technologies

A number of institutional investors and hedge funds have recently modified their holdings of AIT. First Trust Advisors LP boosted its position in Applied Industrial Technologies by 34.3% in the first quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock worth $259,706,000 after purchasing an additional 249,961 shares during the last quarter. Capital International Investors increased 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 purchasing an additional 195,043 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Applied Industrial Technologies by 0.9% during the 4th 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 raised its stake in shares of Applied Industrial Technologies by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock worth $185,833,000 after purchasing an additional 3,348 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Applied Industrial Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock worth $176,479,000 after purchasing an additional 1,889 shares during the period. 93.52% of the stock is owned by hedge funds and other 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.