Applied Industrial Technologies (NYSE:AIT) Hits New 12-Month High – Here’s Why

Applied Industrial Technologies, Inc. (NYSE:AIT)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $326.53 and last traded at $325.6380, with a volume of 201444 shares trading hands. The stock had previously closed at $316.18.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AIT shares. DA Davidson started coverage on shares of Applied Industrial Technologies in a research note on Tuesday. They issued a “buy” rating and a $380.00 price objective for the company. Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Oppenheimer boosted their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $323.14.

Applied Industrial Technologies Stock Up 3.0%

The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $12.03 billion, a PE ratio of 30.75, a P/E/G ratio of 3.05 and a beta of 0.84. The stock’s fifty day simple moving average is $302.23 and its 200-day simple moving average is $280.54.

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

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 15th. Applied Industrial Technologies’s payout ratio is 19.26%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of the company’s 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 directly owned 40,751 shares in the company, 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 SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AIT. Capital International Investors bought a new position in shares of Applied Industrial Technologies in the third quarter worth approximately $200,456,000. Corient Private Wealth LLC increased its position in shares of Applied Industrial Technologies by 22,451.0% in the fourth quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock worth $150,319,000 after purchasing an additional 582,827 shares during the last quarter. Norges Bank bought a new position in shares of Applied Industrial Technologies in the fourth quarter worth approximately $125,044,000. M&T Bank Corp increased its position in shares of Applied Industrial Technologies by 33,181.4% in the fourth quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock worth $81,322,000 after purchasing an additional 299,960 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Applied Industrial Technologies by 4,933.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 264,575 shares of the industrial products company’s stock worth $67,935,000 after purchasing an additional 259,319 shares during the last quarter. 93.52% of the stock is currently 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.