Applied Industrial Technologies, Inc. (NYSE:AIT) Receives Average Rating of “Moderate Buy” from Analysts

Applied Industrial Technologies, Inc. (NYSE:AIT) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $294.3750.

A number of analysts recently weighed in on AIT shares. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, KeyCorp increased their price objective on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Jason W. Vasquez sold 5,447 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. This represents a 27.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the sale, the vice president owned 52,751 shares of the company’s stock, valued at $15,224,993.62. This trade represents a 7.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,654 shares of company stock worth $8,212,829 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Applied Industrial Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in shares of Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after purchasing an additional 14,926 shares during the period. Empowered Funds LLC purchased a new stake in shares of Applied Industrial Technologies during the first quarter worth approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Applied Industrial Technologies by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock worth $22,162,000 after purchasing an additional 10,863 shares during the period. Focus Partners Wealth grew its position in Applied Industrial Technologies by 4.5% in the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after buying an additional 58 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Applied Industrial Technologies by 38.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock valued at $17,151,000 after buying an additional 20,535 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $267.99 on Monday. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 2.56 and a beta of 0.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. The business has a 50-day moving average of $275.25 and a 200 day moving average of $264.18. Applied Industrial Technologies has a 12 month low of $199.96 and a 12 month high of $296.70.

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

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.8%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio is currently 19.41%.

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.