Applied Industrial Technologies (NYSE:AIT) Reaches New 12-Month High – What’s Next?

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

Analyst Upgrades and Downgrades

AIT has been the subject of a number of research reports. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Finally, KeyCorp cut 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 research note on Wednesday, January 28th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $290.63.

Applied Industrial Technologies Stock Up 0.3%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.68 and a beta of 0.84. The business’s 50 day moving average price is $269.79 and its 200 day moving average price is $262.89.

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 (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 net margin of 8.49% and a return on equity of 21.74%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, equities analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.51 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.04 annualized dividend and a dividend yield of 0.7%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 17.51%.

Insider Buying and Selling

In other news, VP Jason W. Vasquez sold 5,447 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the completion of the transaction, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. This represents a 27.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value of $5,490,320.95. Following the transaction, the chief executive officer owned 130,528 shares in the company, valued at $37,311,428.80. This trade represents a 12.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 28,654 shares of company stock valued at $8,212,829. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of large investors have recently added to or reduced their stakes in AIT. Torren Management LLC acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $25,000. Smartleaf Asset Management LLC lifted its stake in Applied Industrial Technologies by 890.0% in 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 in the last quarter. Root Financial Partners LLC acquired a new stake in Applied Industrial Technologies in the 3rd quarter worth about $27,000. Abich Financial Wealth Management LLC purchased a new stake in Applied Industrial Technologies during the 3rd quarter worth approximately $29,000. Finally, Hantz Financial Services Inc. increased its stake in 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 buying an additional 122 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.