Applied Industrial Technologies (NYSE:AIT) Stock Rating Lowered by Wall Street Zen

Applied Industrial Technologies (NYSE:AIT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other research analysts have also recently issued reports on AIT. KeyCorp increased their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.38.

Applied Industrial Technologies Trading Down 1.2%

Shares of NYSE AIT opened at $253.46 on Friday. Applied Industrial Technologies has a twelve month low of $199.96 and a twelve month high of $296.70. The firm has a market cap of $9.45 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 2.46 and a beta of 0.81. The business has a fifty day simple moving average of $274.90 and a two-hundred day simple moving average of $263.90. 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) last posted its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Analysts expect that Applied Industrial Technologies will post 9.9 earnings per share for the current fiscal year.

Insider Transactions at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the transaction, the vice president directly owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total value of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 28,654 shares of company stock valued at $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its holdings in shares of Applied Industrial Technologies by 85.4% during the fourth quarter. Hsbc Holdings PLC now owns 33,807 shares of the industrial products company’s stock valued at $8,733,000 after acquiring an additional 15,572 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Applied Industrial Technologies by 18.8% in the 4th quarter. Corient Private Wealth LLC now owns 3,085 shares of the industrial products company’s stock worth $794,000 after purchasing an additional 489 shares in the last quarter. Clearwave Capital LLC purchased a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $316,000. Anchor Investment Management LLC purchased a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $32,000. Finally, BDFS Capital LLC acquired a new position in Applied Industrial Technologies during the 4th quarter valued at approximately $392,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.