Applied Industrial Technologies, Inc. (NYSE:AIT) Given Average Recommendation of “Moderate Buy” by Brokerages

Applied Industrial Technologies, Inc. (NYSE:AIT) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $294.3750.

A number of research firms have recently weighed in on AIT. KeyCorp raised their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 19,207 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer 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 document filed with the SEC, which is available at this hyperlink. Also, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the transaction, the vice president directly owned 14,491 shares in the company, valued at $4,171,524.17. The trade was a 27.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,654 shares of company stock worth $8,212,829 over the last quarter. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Applied Industrial Technologies

Several hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares in the last quarter. Empowered Funds LLC bought a new stake in Applied Industrial Technologies during the first quarter worth $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Applied Industrial Technologies by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock worth $22,162,000 after acquiring an additional 10,863 shares during the period. Focus Partners Wealth boosted its position in Applied Industrial Technologies by 4.5% in the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 58 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Applied Industrial Technologies by 11.7% in the second quarter. Cetera Investment Advisers now owns 11,660 shares of the industrial products company’s stock worth $2,711,000 after purchasing an additional 1,220 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 2.1%

NYSE:AIT opened at $260.41 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. Applied Industrial Technologies has a one year low of $199.96 and a one year high of $296.70. The company has a market cap of $9.71 billion, a PE ratio of 24.78, a PEG ratio of 2.55 and a beta of 0.81. The firm has a 50-day moving average of $273.71 and a 200-day moving average of $263.87.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results 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. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, equities research analysts expect that Applied Industrial Technologies will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.41%.

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.