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

Applied Industrial Technologies, Inc. (NYSE:AIT) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $281.63 and last traded at $279.7090, with a volume of 150450 shares changing hands. The stock had previously closed at $278.77.

Analysts Set New Price Targets

A number of research analysts have commented on AIT shares. Mizuho set a $305.00 price target on Applied Industrial Technologies in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $287.50.

Applied Industrial Technologies Trading Up 0.1%

The business has a 50-day moving average of $258.62 and a 200-day moving average of $259.31. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.80 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.50 and a current ratio of 3.55.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.16. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $2.36 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. As a group, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.84 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is currently 17.71%.

Institutional Trading of Applied Industrial Technologies

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Applied Industrial Technologies by 2.9% during the second quarter. GAMMA Investing LLC now owns 1,453 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 41 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Applied Industrial Technologies by 3.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock valued at $369,000 after acquiring an additional 45 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Applied Industrial Technologies by 7.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 45 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Applied Industrial Technologies by 1.1% during the third quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock worth $1,209,000 after acquiring an additional 51 shares during the last quarter. Finally, Ritholtz Wealth Management raised its stake in Applied Industrial Technologies by 0.3% during the 2nd quarter. Ritholtz Wealth Management now owns 15,526 shares of the industrial products company’s stock valued at $3,609,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.