Applied Industrial Technologies, Inc. (NYSE:AIT) Receives $287.50 Average Price Target from Analysts

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $287.50.

A number of equities research analysts have recently commented on the company. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research report on Friday, August 22nd. Mizuho set a $305.00 price target on Applied Industrial Technologies in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Applied Industrial Technologies in a research report on Tuesday. Bank of America increased their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Finally, Oppenheimer lifted their price target on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 15th.

Applied Industrial Technologies Stock Up 0.6%

Shares of AIT stock opened at $257.23 on Friday. The company has a current ratio of 3.55, a quick ratio of 2.36 and a debt-to-equity ratio of 0.30. Applied Industrial Technologies has a twelve month low of $199.96 and a twelve month high of $282.98. The stock has a 50 day moving average of $254.82 and a 200 day moving average of $251.30. The stock has a market cap of $9.70 billion, a P/E ratio of 24.76, a P/E/G ratio of 2.61 and a beta of 0.99.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.16. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.36 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. As a group, sell-side analysts expect that Applied Industrial Technologies will post 9.9 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio is 17.71%.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of hedge funds have recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of Applied Industrial Technologies by 13.0% in the first quarter. Cerity Partners LLC now owns 2,484 shares of the industrial products company’s stock worth $560,000 after acquiring an additional 285 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in Applied Industrial Technologies by 11.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 67,225 shares of the industrial products company’s stock valued at $15,148,000 after purchasing an additional 7,073 shares in the last quarter. Private Advisor Group LLC boosted its stake in Applied Industrial Technologies by 17.5% during the 1st quarter. Private Advisor Group LLC now owns 2,908 shares of the industrial products company’s stock worth $655,000 after purchasing an additional 434 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Applied Industrial Technologies by 137.8% during the first quarter. IFP Advisors Inc now owns 1,044 shares of the industrial products company’s stock worth $235,000 after buying an additional 605 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of Applied Industrial Technologies by 7.0% in the first quarter. Allianz Asset Management GmbH now owns 55,630 shares of the industrial products company’s stock valued at $12,536,000 after buying an additional 3,641 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

About Applied Industrial Technologies

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.