Applied Industrial Technologies (NYSE:AIT) Reaches New 52-Week High – What’s Next?

Applied Industrial Technologies, Inc. (NYSE:AIT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $297.17 and last traded at $296.0410, with a volume of 9239 shares. The stock had previously closed at $293.92.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AIT. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. KeyCorp upped their price objective on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $295.00.

Applied Industrial Technologies Price Performance

The company’s 50-day moving average is $274.39 and its 200-day moving average is $266.23. 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 has a market capitalization of $10.82 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.81 and a beta of 0.82.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company earned $2.39 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 10.65 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a $0.51 dividend. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio is 19.41%.

Insider Buying and Selling

In related news, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. This trade represents a 27.32% decrease in their ownership of the stock. The transaction 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 Applied Industrial Technologies stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares in the company, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 28,654 shares of company stock valued at $8,212,829. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AIT. Goldman Sachs Group Inc. lifted its position in Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after buying an additional 14,926 shares in the last quarter. Empowered Funds LLC acquired a new position in Applied Industrial Technologies during the first quarter valued at approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Applied Industrial Technologies by 12.4% during 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 buying an additional 10,863 shares in the last quarter. Focus Partners Wealth lifted its position in Applied Industrial Technologies by 4.5% during the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after buying an additional 58 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in Applied Industrial Technologies during the second quarter valued at approximately $217,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.