Applied Industrial Technologies (NYSE:AIT) Now Covered by Analysts at DA Davidson

Equities research analysts at DA Davidson began coverage on shares of Applied Industrial Technologies (NYSE:AIT) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $380.00 price target on the industrial products company’s stock. DA Davidson’s target price would suggest a potential upside of 20.11% from the stock’s previous close.

Several other equities analysts also recently commented on AIT. Oppenheimer upped their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. KeyCorp upped their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research note on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $323.14.

Applied Industrial Technologies Stock Down 1.2%

Shares of NYSE:AIT opened at $316.38 on Tuesday. The company has a market capitalization of $11.69 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 3.05 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The business has a fifty day moving average price of $302.23 and a two-hundred day moving average price of $280.54. Applied Industrial Technologies has a 1 year low of $223.13 and a 1 year high of $326.41.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 EPS. 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 forecast that Applied Industrial Technologies will post 10.7 earnings per share for the current year.

Insider Transactions at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction dated 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 sale, the vice president owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Compound Planning Inc. raised its position in shares of Applied Industrial Technologies by 4.7% in the fourth quarter. Compound Planning Inc. now owns 822 shares of the industrial products company’s stock worth $211,000 after buying an additional 37 shares in the last quarter. US Asset Management LLC raised its position in shares of Applied Industrial Technologies by 3.3% in the fourth quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company’s stock worth $325,000 after buying an additional 41 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Applied Industrial Technologies by 7.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock worth $170,000 after buying an additional 45 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Applied Industrial Technologies by 4.5% in the first quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $308,000 after buying an additional 50 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Applied Industrial Technologies by 1.1% in the third quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock worth $1,209,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

About Applied Industrial Technologies

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.