Applied Industrial Technologies (NYSE:AIT) Sets New 52-Week High - What's Next?

Key Points

• New 52-week high: AIT shares reached a 52-week high of $297.17 (last around $296.04), with a market capitalization of about $11.03 billion.
• Analyst sentiment: The stock has a consensus rating of Moderate Buy (five Buys, one Hold) with an average target of $295, while KeyCorp raised its target to $330 and recent upgrades have been issued.
• Fundamentals and shareholder returns: Q results showed EPS of $2.51 (slightly beating estimates) and revenue up 8.4% YoY, the company set FY2026 EPS guidance of $10.45–$10.75, and it raised the quarterly dividend to $0.51 (annualized $2.04, ~0.7% yield).

Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $297.17 and last traded at $296.0410, with a volume of 9239 shares. The stock had previously closed at $293.92.

Analyst Upgrades and Downgrades

AIT has been the topic of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, April 11th. Finally, KeyCorp upped their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $295.00.

Applied Industrial Technologies Price Performance

The stock's 50-day moving average price is $274.21 and its 200-day moving average price is $265.81. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.79 and a beta of 0.82. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business posted $2.39 earnings per share. Applied Industrial Technologies's revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 10.65 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.51 dividend. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 19.41%.

Insider Activity at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $285.85, for a total value of $5,490,320.95. Following the transaction, the chief executive officer directly owned 130,528 shares in the company, valued at $37,311,428.80. This represents a 12.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the completion of the transaction, the vice president owned 52,751 shares in the company, valued at $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,654 shares of company stock worth $8,212,829 over the last ninety days. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On Applied Industrial Technologies

Several large investors have recently bought and sold shares of AIT. Compound Planning Inc. increased its stake in Applied Industrial Technologies by 4.7% in the fourth quarter. Compound Planning Inc. now owns 822 shares of the industrial products company's stock valued at $211,000 after purchasing an additional 37 shares in the last quarter. US Asset Management LLC increased its stake in Applied Industrial Technologies by 3.3% in the fourth quarter. US Asset Management LLC now owns 1,266 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 41 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Applied Industrial Technologies by 3.3% in the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company's stock valued at $369,000 after purchasing an additional 45 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Applied Industrial Technologies by 1.1% in the third quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company's stock valued at $1,209,000 after purchasing an additional 51 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.