Applied Industrial Technologies (NYSE:AIT) Price Target Raised to $355.00

Applied Industrial Technologies (NYSE:AIT) had its target price upped by Mizuho from $330.00 to $355.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the industrial products company’s stock.

AIT has been the topic of several other reports. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Oppenheimer boosted their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average target price of $336.71.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $344.00 on Tuesday. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $12.71 billion, a P/E ratio of 32.48, a P/E/G ratio of 2.94 and a beta of 0.83. Applied Industrial Technologies has a 12 month low of $238.34 and a 12 month high of $346.65. The stock has a 50 day moving average of $322.99 and a 200-day moving average of $294.83.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, beating 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 business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the business earned $2.57 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. 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, equities research analysts predict that Applied Industrial Technologies will post 10.71 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 19.26%.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the company’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 completion of the sale, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the transaction, the vice president directly owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This trade represents a 16.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Applied Industrial Technologies by 4.1% during 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 during the last quarter. Empowered Funds LLC acquired a new position in shares of Applied Industrial Technologies in the first quarter worth approximately $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Applied Industrial Technologies by 12.4% during the 1st 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 purchasing an additional 10,863 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Applied Industrial Technologies by 4.5% in the 1st 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 period. Finally, M&T Bank Corp acquired a new position in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $217,000. 93.52% of the stock is currently owned by institutional investors.

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.