Applied Industrial Technologies (NYSE:AIT) Issues Quarterly Earnings Results

Key Points

• Applied Industrial Technologies reported a quarterly EPS of $2.80, exceeding estimates of $2.60, with revenue reaching $1.22 billion.
• The company updated its FY 2026 guidance to an EPS range of $10.00-$10.75.
• A quarterly dividend of $0.46 has been declared, representing an annual yield of 0.7% and a payout ratio of 18.47%.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) announced its quarterly earnings results on Thursday. The industrial products company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.60 by $0.20, Zacks reports. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Applied Industrial Technologies had a net margin of 8.64% and a return on equity of 22.01%. The firm's revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.64 earnings per share. Applied Industrial Technologies updated its FY 2026 guidance to 10.000-10.75 EPS.

Applied Industrial Technologies Stock Down 0.9%

NYSE AIT traded down $2.54 on Thursday, reaching $273.19. The company had a trading volume of 443,213 shares, compared to its average volume of 326,082. The firm has a market capitalization of $10.40 billion, a PE ratio of 27.43, a P/E/G ratio of 3.36 and a beta of 0.94. Applied Industrial Technologies has a 1 year low of $189.18 and a 1 year high of $282.98. The firm has a 50-day moving average of $250.55 and a 200-day moving average of $240.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.57 and a quick ratio of 2.51.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, August 15th. Applied Industrial Technologies's dividend payout ratio is currently 18.47%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Raymond James Financial restated an "outperform" rating and set a $250.00 target price (down from $265.00) on shares of Applied Industrial Technologies in a research report on Friday, May 2nd. Loop Capital lowered their target price on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Wall Street Zen upgraded shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $285.00.

Hedge Funds Weigh In On Applied Industrial Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of AIT. Goldman Sachs Group Inc. increased its position in Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company's stock worth $85,897,000 after buying an additional 14,926 shares during the period. Empowered Funds LLC acquired a new stake in Applied Industrial Technologies in the first quarter worth $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Applied Industrial Technologies by 12.4% in the first 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 buying an additional 10,863 shares during the period. Focus Partners Wealth increased its position in Applied Industrial Technologies by 4.5% in the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock worth $302,000 after buying an additional 58 shares during the period. Finally, M&T Bank Corp acquired a new stake in Applied Industrial Technologies in the second quarter worth $217,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies declared that its board has authorized a share buyback program on Thursday, May 1st that authorizes the company to repurchase 1,500,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

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.

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