Applied Industrial Technologies (NYSE:AIT) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Applied Industrial Technologies (NYSE:AIT) from a buy rating to a hold rating in a report released on Saturday.

AIT has been the subject of several other reports. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Mizuho set a $305.00 price target on Applied Industrial Technologies in a report on Wednesday, October 29th. Finally, KeyCorp reduced their price objective on Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 28th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $290.63.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $270.04 on Friday. 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 has a one year low of $199.96 and a one year high of $286.66. The firm has a market capitalization of $10.07 billion, a P/E ratio of 25.69, a PEG ratio of 2.65 and a beta of 0.84. The company’s fifty day moving average is $265.05 and its two-hundred day moving average is $261.73.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share 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 return on equity of 21.74% and a net margin of 8.49%.The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Analysts forecast that Applied Industrial Technologies will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.51 dividend. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 17.51%.

Hedge Funds Weigh In On Applied Industrial Technologies

Several large investors have recently added to or reduced their stakes in AIT. 111 Capital acquired a new stake in Applied Industrial Technologies in the 2nd quarter valued at $980,000. Envestnet Asset Management Inc. lifted its stake in shares of Applied Industrial Technologies by 38.6% during the second quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock worth $17,151,000 after purchasing an additional 20,535 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Applied Industrial Technologies in the third quarter worth about $1,044,000. Regents Gate Capital LLP purchased a new stake in shares of Applied Industrial Technologies in the second quarter worth about $11,387,000. Finally, TimesSquare Capital Management LLC grew its stake in shares of Applied Industrial Technologies by 10.5% in the second quarter. TimesSquare Capital Management LLC now owns 86,434 shares of the industrial products company’s stock valued at $20,092,000 after buying an additional 8,219 shares in the last quarter. 93.52% of the stock is currently 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.