Applied Industrial Technologies (NYSE:AIT) Raised to “Buy” at Wall Street Zen

Applied Industrial Technologies (NYSE:AIT) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. KeyCorp increased their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $294.38.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $282.85 on Friday. The firm has a market capitalization of $10.55 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 2.71 and a beta of 0.84. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68. Applied Industrial Technologies has a fifty-two week low of $199.96 and a fifty-two week high of $296.70. The stock’s 50-day simple moving average is $273.98 and its 200-day simple moving average is $263.84.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. Applied Industrial Technologies’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, equities research analysts forecast that Applied Industrial Technologies will post 9.9 EPS for the current fiscal year.

Insider Transactions at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the completion of the transaction, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at $37,311,428.80. This represents a 12.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares in the company, valued at $4,171,524.17. This represents a 27.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,654 shares of company stock worth $8,212,829 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Torren Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $25,000. Smartleaf Asset Management LLC lifted its stake in shares of Applied Industrial Technologies by 890.0% in the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 89 shares during the period. Root Financial Partners LLC purchased a new stake in Applied Industrial Technologies during the third quarter worth about $27,000. Abich Financial Wealth Management LLC acquired a new position in Applied Industrial Technologies during the third quarter worth about $29,000. Finally, Anchor Investment Management LLC purchased a new position in Applied Industrial Technologies in the fourth quarter valued at about $32,000. 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.