Applied Industrial Technologies’ (AIT) Buy (B) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b) rating on shares of Applied Industrial Technologies (NYSE:AIT) in a report published on Wednesday,Weiss Ratings reports.

Several other brokerages also recently commented on AIT. Oppenheimer lifted their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Bank of America lifted their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Raymond James Financial downgraded Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, August 15th. Robert W. Baird lifted their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Finally, Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.00.

Applied Industrial Technologies Stock Down 2.1%

Shares of AIT opened at $245.81 on Wednesday. Applied Industrial Technologies has a 52 week low of $199.96 and a 52 week high of $282.98. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 2.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32. The stock has a fifty day moving average of $262.58 and a 200-day moving average of $244.63.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.20. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company earned $2.64 EPS. Applied Industrial Technologies’s revenue was up 5.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. As a group, sell-side analysts anticipate that Applied Industrial Technologies will post 9.9 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Kurt W. Loring sold 8,523 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $267.06, for a total value of $2,276,152.38. Following the transaction, the vice president directly owned 19,273 shares of the company’s stock, valued at $5,147,047.38. The trade was a 30.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jason W. Vasquez sold 7,466 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the transaction, the vice president directly owned 14,491 shares in the company, valued at $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,660 shares of company stock valued at $11,217,980 in the last ninety days. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Trust Point Inc. raised its stake in Applied Industrial Technologies by 11.9% during the 3rd quarter. Trust Point Inc. now owns 1,035 shares of the industrial products company’s stock worth $270,000 after buying an additional 110 shares during the period. Wedge Capital Management L L P NC raised its stake in Applied Industrial Technologies by 17.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 23,344 shares of the industrial products company’s stock worth $6,094,000 after buying an additional 3,479 shares during the period. Centurion Wealth Management LLC acquired a new position in Applied Industrial Technologies during the 3rd quarter worth approximately $261,000. Voya Investment Management LLC raised its stake in Applied Industrial Technologies by 4.7% during the 3rd quarter. Voya Investment Management LLC now owns 148,629 shares of the industrial products company’s stock worth $38,800,000 after buying an additional 6,664 shares during the period. Finally, Ausbil Investment Management Ltd raised its stake in Applied Industrial Technologies by 0.8% during the 3rd quarter. Ausbil Investment Management Ltd now owns 12,161 shares of the industrial products company’s stock worth $3,137,000 after buying an additional 94 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.