Applied Industrial Technologies (NYSE:AIT) Price Target Raised to $355.00

Applied Industrial Technologies (NYSE:AIT) had its price target boosted by research analysts at Mizuho from $330.00 to $355.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective would indicate a potential upside of 5.85% from the company’s current price.

AIT has been the topic of a number of other reports. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a report on Wednesday, April 29th. DA Davidson assumed coverage on Applied Industrial Technologies in a research note on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Oppenheimer lifted their target price on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $336.71.

Applied Industrial Technologies Price Performance

NYSE AIT opened at $335.38 on Tuesday. The company’s 50 day moving average is $321.28 and its two-hundred day moving average is $293.05. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.91 and a beta of 0.83. Applied Industrial Technologies has a 12 month low of $238.34 and a 12 month high of $345.48.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm earned $2.57 EPS. The company’s revenue was up 7.3% on a year-over-year basis. 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. As a group, research analysts anticipate that Applied Industrial Technologies will post 10.71 earnings per share for the current year.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of the firm’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 transaction, the vice president owned 40,751 shares in the company, valued at $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC bought a new stake in Applied Industrial Technologies in the fourth quarter worth $25,000. Anchor Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at $32,000. V Square Quantitative Management LLC bought a new stake in Applied Industrial Technologies in the fourth quarter worth about $34,000. Allworth Financial LP lifted its stake in shares of Applied Industrial Technologies by 446.4% during the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 125 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Applied Industrial Technologies by 78.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 78 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

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.