Applied Industrial Technologies (NYSE:AIT) Hits New 12-Month High - What's Next?

Applied Industrial Technologies (NYSE:AIT) recently reached a new 52-week high of $363.34. Despite an average analyst price target below its current trading level, analysts maintain a "Moderate Buy" consensus rating for the company, with several firms raising their price targets. The company also declared a quarterly dividend of $0.51, and institutional investors hold a significant stake in its stock.