Applied Industrial Technologies (NYSE:AIT) Price Target Raised to $355.00 at Mizuho

Applied Industrial Technologies (NYSE:AIT) had its price target hoisted by Mizuho from $330.00 to $355.00 in a research report released on Tuesday, Marketbeat.com reports. Mizuho currently has an outperform rating on the industrial products company’s stock.

Several other research analysts have also issued reports on the company. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. DA Davidson began coverage on shares of Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a “buy” rating and a $380.00 target price for the company. Finally, Oppenheimer lifted their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average target price of $336.71.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $340.91 on Tuesday. Applied Industrial Technologies has a twelve month low of $238.34 and a twelve month high of $345.48. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The stock has a market cap of $12.60 billion, a P/E ratio of 32.19, a PEG ratio of 2.91 and a beta of 0.83. The company’s 50-day simple moving average is $321.81 and its 200 day simple moving average is $293.64.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The company’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $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, research analysts forecast that Applied Industrial Technologies will post 10.71 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, August 14th. This represents a $2.04 annualized dividend and a yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio is 19.26%.

Insider Activity

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the completion of the sale, the vice president owned 40,751 shares in the company, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the sale, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in Applied Industrial Technologies by 1,628.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 196,946 shares of the industrial products company’s stock valued at $50,570,000 after buying an additional 185,553 shares during the period. SG Americas Securities LLC grew its holdings in Applied Industrial Technologies by 11,093.8% during the 4th quarter. SG Americas Securities LLC now owns 60,894 shares of the industrial products company’s stock worth $15,636,000 after acquiring an additional 60,350 shares during the period. Norges Bank bought a new stake in shares of Applied Industrial Technologies during the 4th quarter valued at $125,044,000. M&T Bank Corp raised its position in shares of Applied Industrial Technologies by 33,181.4% during 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 last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in shares of Applied Industrial Technologies by 38.1% in the 4th quarter. Mutual of America Capital Management LLC now owns 96,438 shares of the industrial products company’s stock valued at $24,762,000 after purchasing an additional 26,612 shares during the period. Institutional investors own 93.52% of the company’s stock.

About Applied Industrial Technologies

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.