Applied Industrial Technologies (NYSE:AIT) Reaches New 1-Year High - Here's What Happened

Key Points

• Applied Industrial Technologies hit a new 52-week high, trading as high as $345.75 amid recent strength in the stock. Shares last changed hands at $345.81, above the prior close of $341.44.
• Analyst sentiment remains broadly positive, with several firms raising price targets, including KeyCorp to $375 and Oppenheimer to $350. The stock now carries a consensus rating of Moderate Buy and an average price target of $336.71.
• Recent fundamentals were solid, as the company beat quarterly EPS and revenue estimates and posted 7.3% year-over-year revenue growth. It also announced a quarterly dividend of $0.51 per share, payable August 31.

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $345.75 and last traded at $345.8110, with a volume of 32620 shares. The stock had previously closed at $341.44.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Oppenheimer boosted their price target 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 target price on Applied Industrial Technologies in a report on Wednesday, April 29th. Wall Street Zen downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. Finally, KeyCorp upped their target price on Applied Industrial Technologies from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Seven equities 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $336.71.

Applied Industrial Technologies Stock Performance

The company's 50-day moving average price is $322.43 and its two-hundred day moving average price is $294.24. The company has a market cap of $12.67 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.95 and a beta of 0.83. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.02. The business 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 business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm 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. As a group, equities analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies's dividend payout ratio is 19.26%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, Director Madhuri A. Andrews sold 3,845 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the sale, the director directly owned 4,951 shares of the company's stock, valued at $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Warren E. Hoffner III sold 8,000 shares of the company's stock in a transaction 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 sale, the vice president directly owned 40,751 shares of the company's stock, valued at approximately $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.60% of the company's stock.

Institutional Trading of Applied Industrial Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Compound Planning Inc. lifted its position in Applied Industrial Technologies by 4.7% during the 4th quarter. Compound Planning Inc. now owns 822 shares of the industrial products company's stock worth $211,000 after buying an additional 37 shares in the last quarter. US Asset Management LLC grew its holdings in Applied Industrial Technologies by 3.3% during the 4th quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company's stock worth $325,000 after acquiring an additional 41 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Applied Industrial Technologies by 7.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company's stock valued at $170,000 after purchasing an additional 45 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company's stock valued at $308,000 after acquiring an additional 50 shares during the last quarter. Finally, Focus Partners Wealth raised its position in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock valued at $302,000 after acquiring an additional 58 shares during the period. 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.

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