Applied Industrial Technologies, Inc. (NYSE:AIT) Receives $294.38 Average Target Price from Analysts

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $294.3750.

A number of equities analysts have weighed in on the stock. 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 report on Thursday, February 26th. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th.

Insiders Place Their Bets

In other news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction dated 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 completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. The trade was a 27.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the sale, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,654 shares of company stock valued at $8,212,829 over the last 90 days. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of AIT. Capital International Investors bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth approximately $200,456,000. Corient Private Wealth LLC increased its position in Applied Industrial Technologies by 22,451.0% in the fourth quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock worth $150,319,000 after buying an additional 582,827 shares during the period. Norges Bank bought a new stake in Applied Industrial Technologies in the fourth quarter valued at $125,044,000. Qube Research & Technologies Ltd acquired a new position in shares of Applied Industrial Technologies during the second quarter valued at $81,722,000. Finally, M&T Bank Corp boosted its holdings in shares of Applied Industrial Technologies by 33,181.4% during the fourth quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after acquiring an additional 299,960 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Up 0.8%

NYSE AIT opened at $279.85 on Monday. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies has a fifty-two week low of $199.96 and a fifty-two week high of $296.70. The business has a 50 day moving average price of $274.98 and a two-hundred day moving average price of $264.05. The stock has a market cap of $10.44 billion, a PE ratio of 26.63, a P/E/G ratio of 2.66 and a beta of 0.81.

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

Applied Industrial Technologies Increases Dividend

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

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.