Applied Industrial Technologies (NYSE:AIT) Sets New 52-Week High – Should You Buy?

Applied Industrial Technologies, Inc. (NYSE:AIT) reached a new 52-week high during trading on Tuesday . The company traded as high as $326.53 and last traded at $325.6380, with a volume of 201444 shares traded. The stock had previously closed at $316.18.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AIT shares. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a report on Wednesday, April 29th. Oppenheimer increased their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, DA Davidson assumed coverage on Applied Industrial Technologies in a report on Tuesday. They issued a “buy” rating and a $380.00 target price on the stock. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.14.

Applied Industrial Technologies Stock Up 2.7%

The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 3.09 and a beta of 0.84. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $304.58 and a two-hundred day moving average of $281.52.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data 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. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $2.57 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. 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, sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.26%.

Insider Buying and Selling

In related news, VP Warren E. Hoffner III sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the transaction, the vice president directly owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Torren Management LLC purchased a new position in shares of Applied Industrial Technologies during the 4th quarter valued at $25,000. Smartleaf Asset Management LLC raised its holdings in shares of Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 89 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $32,000. V Square Quantitative Management LLC acquired a new stake in Applied Industrial Technologies during the fourth quarter valued at $34,000. Finally, Allworth Financial LP boosted its position in Applied Industrial Technologies by 446.4% during the third quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors 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.