Applied Industrial Technologies (NYSE:AIT) Price Target Raised to $330.00 at KeyCorp

Applied Industrial Technologies (NYSE:AIT) had its price objective hoisted by equities researchers at KeyCorp from $300.00 to $330.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective points to a potential upside of 16.90% from the company’s previous close.

Several other research analysts also recently issued reports on AIT. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $294.38.

Applied Industrial Technologies Price Performance

Shares of AIT traded up $1.53 on Thursday, hitting $282.29. The company’s stock had a trading volume of 16,101 shares, compared to its average volume of 351,873. The company has a market capitalization of $10.53 billion, a PE ratio of 26.92, a PEG ratio of 2.71 and a beta of 0.84. Applied Industrial Technologies has a fifty-two week low of $199.96 and a fifty-two week high of $296.70. The company has a 50 day moving average price of $273.08 and a 200 day moving average price of $263.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, research analysts anticipate that Applied Industrial Technologies will post 9.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction dated 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 completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at $4,171,524.17. This represents a 27.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the sale, the vice president owned 52,751 shares in the company, valued at $15,224,993.62. The trade was a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 28,654 shares of company stock worth $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Large investors have recently made changes to their positions in the stock. Torren Management LLC acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth about $25,000. Smartleaf Asset Management LLC increased 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 worth $26,000 after buying an additional 89 shares during the last quarter. Root Financial Partners LLC bought a new stake in Applied Industrial Technologies in the third quarter valued at approximately $27,000. Abich Financial Wealth Management LLC bought a new stake in Applied Industrial Technologies in the third quarter valued at approximately $29,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Applied Industrial Technologies by 2,033.3% in the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.