Applied Industrial Technologies (NYSE:AIT) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Applied Industrial Technologies (NYSE:AIT) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

AIT has been the subject of several other research reports. KeyCorp increased their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.38.

Applied Industrial Technologies Trading Down 1.2%

Shares of AIT stock opened at $253.46 on Friday. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies has a twelve month low of $199.96 and a twelve month high of $296.70. The company’s 50-day moving average price is $274.90 and its 200-day moving average price is $263.90. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 2.43 and a beta of 0.81.

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

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, February 13th. 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 yield of 0.8%. Applied Industrial Technologies’s dividend payout ratio is currently 19.41%.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the transaction, the vice president directly owned 52,751 shares in the company, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jason W. Vasquez sold 5,447 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,654 shares of company stock valued at $8,212,829 over the last 90 days. 1.60% of the stock is owned by company insiders.

Institutional Trading of Applied Industrial Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital International Investors boosted its position in shares of Applied Industrial Technologies by 25.4% during the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after buying an additional 195,043 shares during the period. First Trust Advisors LP raised its holdings in shares of Applied Industrial Technologies by 22.7% in the 3rd quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after buying an additional 172,857 shares during the period. Wellington Management Group LLP lifted its stake in Applied Industrial Technologies by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after acquiring an additional 6,953 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Applied Industrial Technologies by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock worth $185,833,000 after acquiring an additional 3,348 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Applied Industrial Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock valued at $176,479,000 after acquiring an additional 1,889 shares during the period. Hedge funds and other institutional investors 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.