Applied Industrial Technologies (NYSE:AIT) Hits New 1-Year High – Here’s Why

Applied Industrial Technologies, Inc. (NYSE:AIT) shares reached a new 52-week high on Thursday . The company traded as high as $345.75 and last traded at $345.8110, with a volume of 32620 shares. The stock had previously closed at $341.44.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AIT. Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Mizuho upped their price objective on Applied Industrial Technologies from $330.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday. Oppenheimer lifted their target price on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, KeyCorp lifted their target price on Applied Industrial Technologies from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $336.71.

Applied Industrial Technologies Stock Performance

The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.97 and a beta of 0.83. The company’s 50-day simple moving average is $323.78 and its 200-day simple moving average is $295.20.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 earnings per share. 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. Analysts predict that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a $0.51 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 19.26%.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the sale, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction that occurred 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 transaction, the vice president directly owned 40,751 shares in the company, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIT. Torren Management LLC purchased a new position in Applied Industrial Technologies during the 4th quarter worth approximately $25,000. Anchor Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at $32,000. V Square Quantitative Management LLC purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at $34,000. Allworth Financial LP boosted its position in shares of Applied Industrial Technologies by 446.4% in the third quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock worth $40,000 after buying an additional 125 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Applied Industrial Technologies by 78.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock worth $46,000 after buying an additional 78 shares during the period. 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.