Applied Industrial Technologies (NYSE:AIT) Reaches New 52-Week High – Still a Buy?

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $296.70 and last traded at $293.8650, with a volume of 8622 shares. The stock had previously closed at $290.31.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AIT. Mizuho set a $305.00 target price on Applied Industrial Technologies in a research note on Wednesday, October 29th. Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. KeyCorp decreased their price objective on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $290.63.

Applied Industrial Technologies Trading Down 3.2%

The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $268.95 and a two-hundred day moving average price of $262.74. The firm has a market capitalization of $10.49 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 2.89 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $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 forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.51 dividend. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. Applied Industrial Technologies’s payout ratio is currently 17.51%.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the transaction, the vice president directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the completion of the sale, the vice president directly owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,654 shares of company stock valued at $8,212,829 over the last ninety days. 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 added to or reduced their stakes in the business. Capital International Investors acquired a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth about $200,456,000. Norges Bank purchased a new position in Applied Industrial Technologies during the fourth quarter worth about $125,044,000. Qube Research & Technologies Ltd acquired a new stake in shares of Applied Industrial Technologies during the second quarter valued at about $81,722,000. M&T Bank Corp raised its stake in shares of Applied Industrial Technologies by 33,181.4% in the 4th quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after acquiring an additional 299,960 shares during the period. Finally, Dundas Partners LLP lifted its holdings in shares of Applied Industrial Technologies by 12,956.0% in the 2nd quarter. Dundas Partners LLP now owns 266,212 shares of the industrial products company’s stock worth $61,881,000 after acquiring an additional 264,173 shares during the last quarter. Hedge funds and other institutional investors 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.