Applied Industrial Technologies (NYSE:AIT) Reaches New 1-Year High – Still a Buy?

Applied Industrial Technologies, Inc. (NYSE:AIT) reached a new 52-week high during trading on Wednesday . The company traded as high as $281.63 and last traded at $279.7090, with a volume of 150450 shares trading hands. The stock had previously closed at $278.77.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AIT shares. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a report on Wednesday, October 29th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and an average target price of $287.50.

Applied Industrial Technologies Trading Down 0.3%

The company has a quick ratio of 2.50, a current ratio of 3.55 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $259.94 and its two-hundred day moving average is $259.95. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 2.89 and a beta of 0.87.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.16. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.Applied Industrial Technologies’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio is presently 17.71%.

Hedge Funds Weigh In On Applied Industrial Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in shares of 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 worth $26,000 after acquiring an additional 89 shares during the period. Root Financial Partners LLC bought a new position in Applied Industrial Technologies in the 3rd quarter worth about $27,000. Abich Financial Wealth Management LLC bought a new position in Applied Industrial Technologies in the 3rd quarter worth about $29,000. Hantz Financial Services Inc. increased its stake 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 purchasing an additional 122 shares during the period. Finally, Maseco LLP bought a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $35,000. 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.