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

Applied Industrial Technologies (NYSE:AIT) had its price target upped by investment analysts at KeyCorp from $300.00 to $330.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target indicates a potential upside of 16.90% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Wall Street Zen cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Finally, Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday, October 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, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $294.38.

Applied Industrial Technologies Stock Performance

AIT traded up $1.53 during trading on Thursday, hitting $282.29. The stock had a trading volume of 16,101 shares, compared to its average volume of 351,873. 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 company has a 50 day moving average price of $273.08 and a 200-day moving average price of $263.56. Applied Industrial Technologies has a one year low of $199.96 and a one year high of $296.70. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.71 and a beta of 0.84.

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

Insider Buying and Selling

In related news, VP Jason W. Vasquez sold 5,447 shares of the business’s stock in a transaction on 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 sale, the vice president owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction on 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 transaction, the vice president directly owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have 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 insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Torren Management LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter worth about $25,000. Smartleaf Asset Management LLC lifted its stake 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 valued at $26,000 after purchasing an additional 89 shares during the period. Root Financial Partners LLC bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $27,000. Abich Financial Wealth Management LLC acquired a new stake in Applied Industrial Technologies during the third quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. grew its stake in Applied Industrial Technologies by 2,033.3% during the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 122 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.