Applied Industrial Technologies (NYSE:AIT) Hits New 1-Year High – What’s Next?

Applied Industrial Technologies, Inc. (NYSE:AIT)’s share 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 changing hands. The stock had previously closed at $305.48.

Analysts Set New Price Targets

Several research firms have recently weighed in on AIT. Oppenheimer upped their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. KeyCorp increased their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Finally, Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $313.67.

Applied Industrial Technologies Stock Performance

The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $278.46 and a two-hundred day simple moving average of $269.64. The stock has a market capitalization of $11.41 billion, a P/E ratio of 29.14, a P/E/G ratio of 3.01 and a beta of 0.86.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm 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 forecast that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal 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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 19.26%.

Insiders Place Their Bets

In related news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction that occurred on 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 completion of the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Applied Industrial Technologies

Several hedge funds have recently added to or reduced their stakes in AIT. Torren Management LLC acquired a new position in Applied Industrial Technologies in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC raised its holdings in Applied Industrial Technologies by 890.0% in the 3rd 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 in the last quarter. Root Financial Partners LLC acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at $27,000. Abich Financial Wealth Management LLC acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at $29,000. Finally, Anchor Investment Management LLC acquired a new position in Applied Industrial Technologies in the 4th quarter valued at $32,000. 93.52% of the stock is owned by institutional investors and hedge funds.

About Applied Industrial Technologies

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.