Zacks Research Analysts Reduce Earnings Estimates for AIT

Key Points

• Zacks Research slightly lowered its Q3 2028 earnings estimate for Applied Industrial Technologies to $3.20 per share from $3.21, while forecasting $3.51 EPS for Q4 2028.
• Analyst sentiment remains positive: AIT has an average “Buy” rating and a $400 price target, supported by recent target increases from Bank of America, KeyCorp, and DA Davidson.
• AIT’s latest quarter exceeded expectations, with $3.17 EPS and $1.35 billion in revenue, while the company paid a $0.51 quarterly dividend. Shares opened at $326.88, and insiders sold approximately $2.56 million of stock over the prior 90 days.

Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) - Investment analysts at Zacks Research dropped their Q3 2028 earnings estimates for Applied Industrial Technologies in a research note issued to investors on Thursday, September 3rd. Zacks Research analyst Team now expects that the industrial products company will post earnings of $3.20 per share for the quarter, down from their prior forecast of $3.21. The consensus estimate for Applied Industrial Technologies' current full-year earnings is $11.96 per share. Zacks Research also issued estimates for Applied Industrial Technologies' Q4 2028 earnings at $3.51 EPS.

AIT has been the subject of several other reports. Bank of America raised their price objective on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Wall Street Zen upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. DA Davidson boosted their target price on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $400.00.

Applied Industrial Technologies Stock Up 0.4%

Shares of AIT opened at $326.88 on Wednesday. Applied Industrial Technologies has a 52 week low of $238.34 and a 52 week high of $374.80. The firm has a market cap of $12.00 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 2.61 and a beta of 0.83. The firm's 50-day simple moving average is $338.74 and its 200 day simple moving average is $310.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.25. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The company's revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a $0.51 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies's payout ratio is presently 18.61%.

Insider Activity

In other news, CFO David Wells sold 1,812 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the sale, the chief financial officer owned 32,050 shares of the company's stock, valued at approximately $11,380,955. This represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Wallace sold 1,904 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total transaction of $648,216.80. Following the sale, the director owned 22,859 shares in the company, valued at $7,782,346.55. This represents a 7.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 7,561 shares of company stock worth $2,560,085. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIT. NewEdge Advisors LLC increased its stake in shares of Applied Industrial Technologies by 28.5% in the 2nd quarter. NewEdge Advisors LLC now owns 4,834 shares of the industrial products company's stock valued at $1,635,000 after purchasing an additional 1,071 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Applied Industrial Technologies by 63.7% during the 2nd quarter. IFP Advisors Inc now owns 1,200 shares of the industrial products company's stock worth $406,000 after buying an additional 467 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Applied Industrial Technologies by 6.4% during the 2nd quarter. Baird Financial Group Inc. now owns 4,896 shares of the industrial products company's stock worth $1,656,000 after buying an additional 296 shares during the last quarter. Hudock Inc. bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth $212,000. Finally, Allworth Financial LP boosted its stake in Applied Industrial Technologies by 80.9% in the second quarter. Allworth Financial LP now owns 1,554 shares of the industrial products company's stock valued at $525,000 after buying an additional 695 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Company Profile

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.

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