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

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $294.3750.

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, KeyCorp raised their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $260.30 on Friday. Applied Industrial Technologies has a 1 year low of $199.96 and a 1 year high of $296.70. The company’s 50 day simple moving average is $273.29 and its 200 day simple moving average is $263.85. The company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 2.50 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. The firm had revenue of $1.16 billion during 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%. Applied Industrial Technologies’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, sell-side analysts predict that Applied Industrial Technologies will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 13th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the transaction, the vice president owned 14,491 shares of the company’s stock, valued at $4,171,524.17. This trade represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares in the company, valued at approximately $37,311,428.80. This represents a 12.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 28,654 shares of company stock valued at $8,212,829. Insiders own 1.60% of the company’s stock.

Institutional Trading of Applied Industrial Technologies

Institutional investors have recently made changes to their positions in the stock. Torren Management LLC purchased a new position in shares of Applied Industrial Technologies in the 4th quarter worth $25,000. Smartleaf Asset Management LLC grew its position in Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 89 shares during the period. Root Financial Partners LLC purchased a new stake in Applied Industrial Technologies during the third quarter valued at about $27,000. Abich Financial Wealth Management LLC acquired a new stake in Applied Industrial Technologies during the third quarter worth about $29,000. Finally, Anchor Investment Management LLC acquired a new stake in Applied Industrial Technologies during the fourth quarter worth about $32,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.