Applied Industrial Technologies (NYSE:AIT) Given New $355.00 Price Target at Mizuho

Applied Industrial Technologies (NYSE:AIT) had its target price increased by equities research analysts at Mizuho from $330.00 to $355.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective points to a potential upside of 5.85% from the company’s previous close.

AIT has been the topic of a number of other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. KeyCorp boosted their price objective on Applied Industrial Technologies from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. DA Davidson began coverage on Applied Industrial Technologies in a research note on Tuesday, June 16th. They issued a “buy” rating and a $380.00 target price for the company. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research report on Wednesday, April 29th. Finally, Oppenheimer raised their price objective on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $336.71.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $335.38 on Tuesday. The firm has a market capitalization of $12.40 billion, a PE ratio of 31.67, a P/E/G ratio of 2.91 and a beta of 0.83. 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 company has a 50-day moving average price of $321.28 and a two-hundred day moving average price of $293.05. Applied Industrial Technologies has a twelve month low of $238.34 and a twelve month high of $345.48.

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 analyst estimates of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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. Equities analysts forecast that Applied Industrial Technologies will post 10.71 EPS for the current year.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the sale, the vice president owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of institutional investors have recently bought and sold shares of AIT. Corient Private Wealth LLC lifted its position in Applied Industrial Technologies by 22,451.0% during the 4th quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock valued at $150,319,000 after acquiring an additional 582,827 shares during the period. Norges Bank bought a new stake in Applied Industrial Technologies during the 4th quarter valued at about $125,044,000. M&T Bank Corp grew its holdings in shares of Applied Industrial Technologies by 33,181.4% during the fourth quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after buying an additional 299,960 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Applied Industrial Technologies by 4,933.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 264,575 shares of the industrial products company’s stock valued at $67,935,000 after purchasing an additional 259,319 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Applied Industrial Technologies by 34.3% during the first quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock valued at $259,706,000 after buying an additional 249,961 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

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.