Applied Industrial Technologies, Inc. (NYSE:AIT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Applied Industrial Technologies, Inc. (NYSE:AIT) has been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $294.3750.

A number of brokerages recently issued reports on AIT. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, KeyCorp lifted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday.

Insiders Place Their Bets

In related news, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the sale, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at $37,311,428.80. This trade represents a 12.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the transaction, 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. In the last quarter, insiders sold 28,654 shares of company stock valued at $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Torren Management LLC bought a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its stake in Applied Industrial Technologies by 890.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after buying an additional 89 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Applied Industrial Technologies during the 3rd quarter valued at $27,000. Abich Financial Wealth Management LLC bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at $29,000. Finally, Hantz Financial Services Inc. boosted its stake in shares of Applied Industrial Technologies by 2,033.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after buying an additional 122 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Price Performance

AIT stock opened at $282.85 on Monday. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.70 and a beta of 0.80. The firm’s 50-day moving average price is $273.98 and its two-hundred day moving average price is $263.71. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies has a 12-month low of $199.96 and a 12-month high of $296.70.

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

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s payout ratio is 19.41%.

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.