Brokerages Set Applied Industrial Technologies, Inc. (NYSE:AIT) PT at $285.00

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $285.00.

AIT has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Robert W. Baird raised their price objective on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a report on Friday, August 22nd. Bank of America lifted their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Finally, Raymond James Financial cut Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 15th.

Insider Activity

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the completion of the transaction, the chief executive officer directly owned 149,735 shares of the company’s stock, valued at $39,299,448.10. This trade represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of Applied Industrial Technologies stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the transaction, the vice president directly owned 14,491 shares in the company, valued at $3,768,819.28. The trade was a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,660 shares of company stock valued at $11,217,980. Insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Several institutional investors and hedge funds have recently made changes to their positions in AIT. Norges Bank acquired a new position in shares of Applied Industrial Technologies in the second quarter worth approximately $107,228,000. Alliancebernstein L.P. raised its holdings in Applied Industrial Technologies by 452.6% during the 1st quarter. Alliancebernstein L.P. now owns 436,565 shares of the industrial products company’s stock worth $98,376,000 after purchasing an additional 357,568 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $81,722,000. GAMMA Investing LLC lifted its position in shares of Applied Industrial Technologies by 34,002.9% in the 1st quarter. GAMMA Investing LLC now owns 318,180 shares of the industrial products company’s stock worth $716,990,000 after purchasing an additional 317,247 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Applied Industrial Technologies in the 1st quarter valued at $67,365,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $263.30 on Monday. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. The stock has a market cap of $9.94 billion, a PE ratio of 26.02, a P/E/G ratio of 2.76 and a beta of 1.00. Applied Industrial Technologies has a 12-month low of $191.31 and a 12-month high of $282.98. The business’s 50-day moving average price is $262.84 and its two-hundred day moving average price is $240.61.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. As a group, analysts expect that Applied Industrial Technologies will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Applied Industrial Technologies’s payout ratio is presently 18.18%.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.