Applied Industrial Technologies (NYSE:AIT) Hits New 1-Year High – Time to Buy?

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) hit a new 52-week high during trading on Monday . The company traded as high as $340.37 and last traded at $338.6250, with a volume of 485776 shares trading hands. The stock had previously closed at $337.96.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research report on Wednesday, April 29th. KeyCorp boosted their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. DA Davidson initiated coverage on Applied Industrial Technologies in a research report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 target price for the company. Finally, Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.14.

Applied Industrial Technologies Stock Down 0.2%

The firm has a market capitalization of $12.47 billion, a PE ratio of 31.86, a P/E/G ratio of 3.22 and a beta of 0.84. The firm’s 50 day moving average price is $307.06 and its two-hundred day moving average price is $282.67. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business earned $2.57 EPS. The business’s 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. As a group, research analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.51 per share. 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 dividend payout ratio (DPR) is currently 19.26%.

Insider Activity

In other news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the sale, the vice president directly owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

A number of hedge funds have recently bought and sold shares of the business. First Trust Advisors LP increased its holdings in Applied Industrial Technologies by 34.3% during the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock worth $259,706,000 after purchasing an additional 249,961 shares during the last quarter. Capital International Investors grew its position in shares of Applied Industrial Technologies by 25.4% during the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after buying an additional 195,043 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Applied Industrial Technologies by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after buying an additional 6,953 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Applied Industrial Technologies by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock worth $185,833,000 after buying an additional 3,348 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Applied Industrial Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock valued at $176,479,000 after acquiring an additional 1,889 shares in 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.