Brokerages Set Applied Industrial Technologies, Inc. (NYSE:AIT) Target Price at $313.67

Applied Industrial Technologies, Inc. (NYSE:AIT) has been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $313.6667.

AIT has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Oppenheimer increased their price target on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. KeyCorp increased their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research report on Wednesday, April 29th.

Insider Activity

In other news, VP Warren E. Hoffner III sold 8,000 shares of the firm’s stock in a transaction 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 $12,471,436.04. This trade represents a 16.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

Several large investors have recently made changes to their positions in AIT. Capital International Investors purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at $200,456,000. Corient Private Wealth LLC increased its position in shares of Applied Industrial Technologies by 22,451.0% during the 4th quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock valued at $150,319,000 after purchasing an additional 582,827 shares during the last quarter. Norges Bank purchased a new stake in shares of Applied Industrial Technologies during the 4th quarter valued at $125,044,000. M&T Bank Corp increased its position in shares of Applied Industrial Technologies by 33,181.4% during the 4th quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after purchasing an additional 299,960 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Applied Industrial Technologies by 4,933.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 264,575 shares of the industrial products company’s stock valued at $67,935,000 after purchasing an additional 259,319 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Trading Up 1.2%

NYSE AIT opened at $306.28 on Friday. The firm has a market capitalization of $11.32 billion, a P/E ratio of 28.92, a PEG ratio of 2.88 and a beta of 0.86. The business has a fifty day simple moving average of $284.10 and a 200 day simple moving average of $272.94. Applied Industrial Technologies has a 12 month low of $218.48 and a 12 month high of $317.10. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.Applied Industrial Technologies’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior 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, analysts predict that Applied Industrial Technologies will post 10.7 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.26%.

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.