Bank of America Issues Positive Forecast for Applied Industrial Technologies (NYSE:AIT) Stock Price

Applied Industrial Technologies (NYSE:AIT) had its target price upped by Bank of America from $380.00 to $390.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Robert W. Baird upped their price target on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday. Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $384.29.

Applied Industrial Technologies Trading Up 1.3%

NYSE AIT opened at $362.18 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.97 and a current ratio of 2.58. Applied Industrial Technologies has a one year low of $238.34 and a one year high of $374.80. The company has a 50-day simple moving average of $337.04 and a 200-day simple moving average of $303.32. The firm has a market capitalization of $13.39 billion, a PE ratio of 33.05, a price-to-earnings-growth ratio of 3.08 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.25. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business earned $2.80 earnings per share. Applied Industrial Technologies’s quarterly revenue was up 10.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, equities analysts forecast that Applied Industrial Technologies will post 11.8 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s payout ratio is currently 19.26%.

Insider Activity

In other news, Director Madhuri A. Andrews sold 3,845 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the sale, the director directly owned 4,951 shares of the company’s stock, valued at $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of institutional investors have recently bought and sold shares of AIT. BlackRock Inc. acquired a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $1,336,805,000. First Trust Advisors LP boosted its stake in Applied Industrial Technologies by 34.3% in the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock worth $259,706,000 after purchasing an additional 249,961 shares during the period. Capital International Investors grew its position in Applied Industrial Technologies by 25.4% during the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after purchasing an additional 195,043 shares in the last quarter. Wellington Management Group LLP grew its position in Applied Industrial Technologies by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after purchasing an additional 6,953 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Applied Industrial Technologies by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock valued at $185,833,000 after purchasing an additional 3,348 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

More Applied Industrial Technologies News

Here are the key news stories impacting Applied Industrial Technologies this week:

• Positive Sentiment: Quarterly results beat expectations: Fiscal Q4 earnings were $3.17 per share versus the $2.92 consensus, while revenue reached approximately $1.35 billion-$1.4 billion, ahead of the $1.29 billion estimate. Sales rose about 10.5% year over year, helped by organic growth, while margin gains further supported the results. AIT Q4 Earnings Beat Estimates on Strong Organic Sales Growth
• Positive Sentiment: Constructive fiscal 2027 outlook: AIT forecast revenue of $5.2 billion-$5.3 billion and adjusted EPS of $11.65-$12.15. The company also increased its intermediate financial targets, signaling confidence in continued demand and operating improvement. Fiscal 2026 Results and Fiscal 2027 Guidance
• Positive Sentiment: Analysts raised targets and ratings: Mizuho lifted its target from $355 to $400 and upgraded AIT to “outperform.” Robert W. Baird also raised its target from $317 to $400 with an “outperform” rating, while DA Davidson increased its target from $380 to $400 and maintained a “buy” rating. Bank of America raised its target from $380 to $390 and assigned a “buy” rating. Mizuho Raises AIT Price Target

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.