Applied Industrial Technologies (NYSE:AIT) Stock Price Expected to Rise, KeyCorp Analyst Says

Applied Industrial Technologies (NYSE:AIT) had its target price boosted by KeyCorp from $300.00 to $330.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target would suggest a potential upside of 16.67% from the stock’s previous close.

AIT has been the topic of a number of other reports. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a report on Wednesday, October 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average target price of $294.38.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $282.85 on Thursday. Applied Industrial Technologies has a 52-week low of $199.96 and a 52-week high of $296.70. The stock has a fifty day moving average of $273.98 and a 200 day moving average of $263.84. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 2.71 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share 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 analyst estimates of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period 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. On average, research analysts expect that Applied Industrial Technologies will post 9.9 EPS for the current fiscal year.

Insider Activity

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 shares were sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the sale, the vice president owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total transaction of $5,490,320.95. Following the completion of the transaction, the chief executive officer owned 130,528 shares in the company, valued at approximately $37,311,428.80. The trade was a 12.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,654 shares of company stock valued at $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AIT. Compound Planning Inc. boosted its holdings 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 valued at $211,000 after acquiring an additional 37 shares during the period. US Asset Management LLC lifted its position 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 during the last quarter. Jones Financial Companies Lllp lifted its position 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 during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Applied Industrial Technologies by 7.4% during 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 period. Finally, Quadrant Capital Group LLC grew its holdings in shares of 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 worth $1,209,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other 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.