Brokerages Set Applied Industrial Technologies, Inc. (NYSE:AIT) PT at $285.00

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $285.00.

AIT has been the topic of a number of recent research reports. Robert W. Baird increased their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Raymond James Financial downgraded Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Bank of America lifted their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Finally, Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a research report on Friday, August 22nd.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $263.30 on Monday. The company’s 50-day moving average is $262.84 and its 200-day moving average is $240.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.32 and a quick ratio of 2.36. The firm has a market capitalization of $9.94 billion, a PE ratio of 26.02, a PEG ratio of 2.76 and a beta of 1.00. Applied Industrial Technologies has a fifty-two week low of $191.31 and a fifty-two week high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.20. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. Applied Industrial Technologies’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Equities analysts forecast that Applied Industrial Technologies will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.46 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.84 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is 18.18%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 26,671 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the transaction, the chief executive officer owned 149,735 shares in the company, valued at $39,299,448.10. This represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the transaction, the vice president directly owned 19,273 shares in the company, valued at $5,147,047.38. This represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,660 shares of company stock valued at $11,217,980 in the last quarter. Company insiders own 1.67% of the company’s stock.

Hedge Funds Weigh In On Applied Industrial Technologies

Several hedge funds have recently bought and sold shares of AIT. Hantz Financial Services Inc. lifted its holdings in shares of Applied Industrial Technologies by 2,033.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 122 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Applied Industrial Technologies by 51.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 44 shares in the last quarter. Rise Advisors LLC raised its position in Applied Industrial Technologies by 111.1% during the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 70 shares in the last quarter. Maseco LLP bought a new stake in Applied Industrial Technologies during the second quarter worth $35,000. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Applied Industrial Technologies by 97.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 79 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.