Applied Industrial Technologies (NYSE:AIT) Sets New 12-Month High – Still a Buy?

Applied Industrial Technologies, Inc. (NYSE:AIT)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $313.30 and last traded at $312.0610, with a volume of 22955 shares traded. The stock had previously closed at $305.48.

Analysts Set New Price Targets

A number of brokerages have commented on AIT. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. KeyCorp raised their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Finally, Oppenheimer raised their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $313.67.

Applied Industrial Technologies Stock Up 3.2%

The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 2.90 and a beta of 0.86. The business’s 50-day moving average is $277.15 and its two-hundred day moving average is $268.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. Applied Industrial Technologies’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company posted $2.57 EPS. 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. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.26%.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the sale, the vice president directly owned 52,751 shares in the company, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, the vice president owned 14,491 shares in the company, valued at $4,171,524.17. This trade represents a 27.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Applied Industrial Technologies

Hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at approximately $1,044,000. Alps Advisors Inc. raised its holdings in shares of Applied Industrial Technologies by 33.0% in the third quarter. Alps Advisors Inc. now owns 32,824 shares of the industrial products company’s stock valued at $8,569,000 after purchasing an additional 8,153 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Applied Industrial Technologies by 44.4% in the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after purchasing an additional 9,321 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Applied Industrial Technologies by 22.7% in the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after purchasing an additional 172,857 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Applied Industrial Technologies by 27.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,126 shares of the industrial products company’s stock valued at $12,041,000 after purchasing an additional 9,898 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.