Applied Industrial Technologies (NYSE:AIT) Stock Price Target Lowered at Robert W. Baird

Applied Industrial Technologies (NYSE:AIT) had its price target dropped by research analysts at Robert W. Baird from $400.00 to $350.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird‘s price target would indicate a potential upside of 17.68% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Oppenheimer reiterated an “outperform” rating on shares of Applied Industrial Technologies in a research report on Wednesday. Bank of America lifted their target price on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Sunday, October 11th. KeyCorp lifted their price objective on Applied Industrial Technologies from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, Weiss Ratings lowered Applied Industrial Technologies from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $390.00.

Applied Industrial Technologies Stock Down 8.4%

NYSE:AIT opened at $297.42 on Wednesday. The firm’s fifty day simple moving average is $330.18 and its 200-day simple moving average is $308.87. The stock has a market cap of $10.93 billion, a PE ratio of 27.14 and a beta of 0.85. Applied Industrial Technologies has a fifty-two week low of $238.72 and a fifty-two week high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.08. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.29 billion. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 EPS. Equities analysts anticipate that Applied Industrial Technologies will post 12.00 earnings per share for the current year.

Insider Buying and Selling

In other Applied Industrial Technologies news, Director Peter Wallace sold 1,904 shares of Applied Industrial Technologies stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the transaction, the director owned 22,859 shares in the company, valued at $7,782,346.55. This trade represents a 7.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David Wells sold 1,812 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the completion of the transaction, the chief financial officer directly owned 32,050 shares in the company, valued at $11,380,955. This trade represents a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Applied Industrial Technologies

A number of large investors have recently modified their holdings of the company. Childress Capital Advisors LLC increased its stake in shares of Applied Industrial Technologies by 2.9% in the third quarter. Childress Capital Advisors LLC now owns 1,999 shares of the industrial products company’s stock worth $664,000 after acquiring an additional 57 shares during the last quarter. BOKF NA lifted its position in Applied Industrial Technologies by 0.3% during the 3rd quarter. BOKF NA now owns 12,545 shares of the industrial products company’s stock worth $4,169,000 after buying an additional 37 shares in the last quarter. VestGen Advisors LLC bought a new stake in shares of Applied Industrial Technologies during the third quarter worth approximately $200,000. Smith Group Asset Management LLC grew its position in shares of Applied Industrial Technologies by 1.6% during the 3rd quarter. Smith Group Asset Management LLC now owns 3,929 shares of the industrial products company’s stock worth $1,306,000 after buying an additional 63 shares during the period. Finally, Victory Financial Group LLC bought a new position in Applied Industrial Technologies during the third quarter worth about $364,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Trending Headlines about Applied Industrial Technologies

Here are the key news stories impacting Applied Industrial Technologies this week:

• Positive Sentiment: AIT reported fiscal Q1 EPS of $2.97, exceeding consensus estimates of approximately $2.86–$2.89 and rising from $2.63 a year earlier. Revenue increased 7.6% to about $1.29 billion, in line with expectations. Applied Industrial Technologies Reports Fiscal 2027 First Quarter Results
• Positive Sentiment: Management raised its full-year fiscal 2027 outlook, forecasting EPS of $11.70 to $12.20 while maintaining its sales-growth expectation of 4% to 6.5%. The improved earnings guidance supports the view that operating performance is holding up despite a mixed industrial environment. Applied Industrial Technologies beats Q1 2027 EPS and raises full-year guidance
• Positive Sentiment: The board declared a quarterly dividend of $0.51 per share, payable November 30 to shareholders of record November 13. The annualized dividend is $2.04 per share, although the approximately 0.7% yield is modest.
• Neutral Sentiment: AIT announced changes to its board of directors. The immediate financial impact is unclear, and investors may look for additional details regarding the changes and their strategic implications. Applied Industrial Technologies Announces Board Changes
• Negative Sentiment: KeyBanc lowered its price target to $360. Although the target remains above the recent trading level, the reduction indicates greater valuation or near-term execution caution following the earnings release. Applied Industrial Technologies Price Target Lowered to $360 at KeyBanc

About Applied Industrial Technologies

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider of industrial motion, power transmission, fluid power, automation, and control products. Its offerings include bearings, mechanical power-transmission components, motors, gearboxes, hydraulic and pneumatic equipment, industrial hoses, process pumps, safety products, and related maintenance supplies.

The company also provides technical and engineering services designed to help customers improve equipment performance, reliability, and productivity.