Applied Industrial Technologies (NYSE:AIT) Sets New 52-Week High – Still a Buy?

Applied Industrial Technologies, Inc. (NYSE:AIT) shares reached a new 52-week high on Thursday . The stock traded as high as $345.75 and last traded at $345.8110, with a volume of 32620 shares traded. The stock had previously closed at $341.44.

Wall Street Analysts Forecast Growth

AIT has been the subject of several research analyst reports. Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Mizuho lifted their target price on Applied Industrial Technologies from $330.00 to $355.00 and gave the stock an “outperform” rating in a report on Tuesday. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Finally, KeyCorp boosted their price objective on Applied Industrial Technologies from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.71.

Applied Industrial Technologies Price Performance

The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 2.95 and a beta of 0.83. The company has a 50 day simple moving average of $322.43 and a 200-day simple moving average of $294.24. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company earned $2.57 earnings per share. Applied Industrial Technologies’s quarterly 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. Research analysts expect that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend 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 currently 19.26%.

Insider Buying and Selling

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction on 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Warren E. Hoffner III sold 8,000 shares of the business’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 sale, the vice president directly 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 SEC filing for this sale provides additional information. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

Several hedge funds have recently modified their holdings of AIT. Torren Management LLC bought a new stake in Applied Industrial Technologies during the fourth quarter worth about $25,000. Anchor Investment Management LLC acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth approximately $32,000. V Square Quantitative Management LLC acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth approximately $34,000. Allworth Financial LP increased its position 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 purchasing an additional 125 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Applied Industrial Technologies by 78.8% during the 4th 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 in the last quarter. Institutional investors 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.