Applied Industrial Technologies, Inc. (NYSE:AIT) Receives $400.00 Average PT from Analysts

Applied Industrial Technologies, Inc. (NYSE:AIT) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $400.00.

AIT has been the topic of a number of recent analyst reports. Bank of America raised their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. KeyCorp lifted their price objective 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, August 14th. Robert W. Baird boosted their price objective on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Mizuho upped their target price on Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st.

Applied Industrial Technologies Stock Up 3.0%

NYSE AIT opened at $330.08 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 2.57 and a beta of 0.83. The company has a 50 day moving average of $337.51 and a 200-day moving average of $313.10. Applied Industrial Technologies has a 1-year low of $238.34 and a 1-year high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.25. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, equities research analysts expect that Applied Industrial Technologies will post 11.96 earnings per share for the current fiscal year.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Peter Wallace sold 1,904 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total transaction of $648,216.80. Following the completion of the transaction, the director owned 22,859 shares of the company’s stock, valued at approximately $7,782,346.55. The trade was a 7.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David Wells sold 1,812 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the sale, the chief financial officer owned 32,050 shares in the company, valued at approximately $11,380,955. The trade was a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Applied Industrial Technologies in the 2nd quarter worth about $1,336,805,000. First Trust Advisors LP boosted its stake in shares of Applied Industrial Technologies by 34.3% during the first quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock valued at $259,706,000 after purchasing an additional 249,961 shares in the last quarter. Capital International Investors grew its holdings in shares of Applied Industrial Technologies by 25.4% during the fourth 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Applied Industrial Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock valued at $176,479,000 after buying an additional 1,889 shares during the period. Finally, Norges Bank acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $125,044,000. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider for industrial and maintenance, repair and operations (MRO) markets. The company supplies products used to keep manufacturing, processing, infrastructure and other industrial operations running, including bearings, power-transmission components, industrial motion products, fluid power equipment, hose and fittings, industrial rubber products, safety supplies and automation components.

In addition to product distribution, Applied Industrial Technologies provides engineering, design, fabrication, repair, assembly, technical support and other application-focused services.