Applied Industrial Technologies (NYSE:AIT) Hits New 12-Month High - Here's Why

Key Points

• Applied Industrial Technologies (NYSE: AIT) hit a new 52-week high of $326.53, reflecting recent bullish momentum in the stock. It last traded around $325.64, up about 3% on the day.
• The company’s latest quarterly results topped expectations, with EPS of $2.65 versus estimates of $2.63 and revenue of $1.25 billion versus $1.23 billion expected. Revenue rose 7.3% year over year, and management also issued upbeat guidance for FY 2026.
• Wall Street sentiment remains constructive, with six Buy ratings and one Hold rating, and analysts’ target prices recently moving higher, including DA Davidson’s $380 target. The company also paid a quarterly dividend of $0.51 per share, while institutional ownership remains high at 93.52%.

Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $326.53 and last traded at $325.6380, with a volume of 201444 shares traded. The stock had previously closed at $316.18.

Wall Street Analyst Weigh In

AIT has been the topic of several recent research reports. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. DA Davidson initiated coverage on shares of Applied Industrial Technologies in a research report on Tuesday. They set a "buy" rating and a $380.00 target price on the stock. Finally, Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $323.14.

Applied Industrial Technologies Stock Up 3.0%

The stock has a market cap of $12.03 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 3.05 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average price is $302.23 and its 200-day moving average price is $280.54.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) 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 analysts' consensus estimates of $2.63 by $0.02. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The company's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $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. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

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

Insider Activity

In other news, VP Warren E. Hoffner III sold 8,000 shares of the business's stock in a transaction that occurred on 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 transaction, the vice president owned 40,751 shares in the company, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company's stock.

Institutional Trading of Applied Industrial Technologies

Several hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its stake in shares of Applied Industrial Technologies by 57.8% in the 1st quarter. Empowered Funds LLC now owns 2,201 shares of the industrial products company's stock valued at $584,000 after acquiring an additional 806 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Applied Industrial Technologies by 6.3% in the 1st quarter. NewEdge Advisors LLC now owns 3,763 shares of the industrial products company's stock valued at $998,000 after acquiring an additional 223 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Applied Industrial Technologies by 15.5% in the 1st quarter. Segall Bryant & Hamill LLC now owns 110,642 shares of the industrial products company's stock valued at $29,356,000 after acquiring an additional 14,863 shares in the last quarter. Verus Capital Partners LLC increased its stake in shares of Applied Industrial Technologies by 29.5% in the 1st quarter. Verus Capital Partners LLC now owns 1,081 shares of the industrial products company's stock valued at $287,000 after acquiring an additional 246 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Applied Industrial Technologies by 6.2% in the 1st quarter. Janus Henderson Group PLC now owns 17,252 shares of the industrial products company's stock valued at $4,579,000 after acquiring an additional 1,000 shares in the last quarter. 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.

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