Applied Industrial Technologies (NYSE:AIT) Hits New 52-Week High – Should You Buy?

Applied Industrial Technologies, Inc. (NYSE:AIT)’s share price hit a new 52-week high on Monday . The stock traded as high as $318.95 and last traded at $316.5430, with a volume of 6769 shares traded. The stock had previously closed at $313.67.

Analysts Set New Price Targets

A number of research firms have commented on AIT. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. KeyCorp increased their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Oppenheimer raised their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Finally, Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $313.67.

Applied Industrial Technologies Stock Performance

The company has a market capitalization of $11.69 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 3.00 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The firm has a 50-day simple moving average of $295.69 and a two-hundred day simple moving average of $277.56.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $2.57 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. 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. On average, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.51 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s payout ratio is 19.26%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the sale, the vice president directly owned 40,751 shares in the company, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of institutional investors and hedge funds have recently modified their holdings of AIT. First Trust Advisors LP increased its holdings in shares of Applied Industrial Technologies by 22.7% in the 3rd quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after acquiring an additional 172,857 shares during the last quarter. Alps Advisors Inc. lifted its stake in Applied Industrial Technologies by 33.0% during the third quarter. Alps Advisors Inc. now owns 32,824 shares of the industrial products company’s stock worth $8,569,000 after purchasing an additional 8,153 shares during the last quarter. Distillate Capital Partners LLC acquired a new position in Applied Industrial Technologies in the third quarter valued at approximately $13,281,000. Citigroup Inc. boosted its holdings in Applied Industrial Technologies by 44.4% in the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after purchasing an additional 9,321 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Applied Industrial Technologies by 6.4% in the third quarter. Westfield Capital Management Co. LP now owns 234,734 shares of the industrial products company’s stock valued at $61,277,000 after purchasing an additional 14,094 shares during the last quarter. Institutional investors and hedge funds 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.