Applied Industrial Technologies (NYSE:AIT) Hits New 1-Year High – Here’s Why

Applied Industrial Technologies, Inc. (NYSE:AIT)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $290.09 and last traded at $289.95, with a volume of 786048 shares changing hands. The stock had previously closed at $273.22.

Analysts Set New Price Targets

A number of brokerages have recently commented on AIT. Mizuho set a $305.00 target price on Applied Industrial Technologies in a research note on Wednesday, October 29th. KeyCorp cut their target price on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and an average target price of $290.63.

Applied Industrial Technologies Stock Performance

The stock has a market cap of $10.82 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 2.75 and a beta of 0.84. The firm’s 50-day moving average is $265.39 and its two-hundred day moving average is $261.82. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $2.39 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.51 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.04 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is 19.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AIT. Torren Management LLC acquired a new position in Applied Industrial Technologies in the 4th quarter valued at about $25,000. Smartleaf Asset Management LLC raised its position in shares of Applied Industrial Technologies by 890.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after buying an additional 89 shares during the period. Root Financial Partners LLC acquired a new stake in Applied Industrial Technologies during the third quarter worth $27,000. Abich Financial Wealth Management LLC purchased a new stake in Applied Industrial Technologies in the third quarter valued at $29,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Applied Industrial Technologies by 2,033.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 122 shares during 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.