Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) - Stock analysts at Zacks Research lifted their FY2024 earnings estimates for Applied Industrial Technologies in a research report issued on Wednesday, April 17th. Zacks Research analyst S. Roy now forecasts that the industrial products company will post earnings per share of $9.43 for the year, up from their previous forecast of $9.42. The consensus estimate for Applied Industrial Technologies' current full-year earnings is $9.49 per share. Zacks Research also issued estimates for Applied Industrial Technologies' Q4 2024 earnings at $2.42 EPS, Q4 2025 earnings at $2.49 EPS, FY2025 earnings at $9.28 EPS, Q2 2026 earnings at $1.96 EPS, Q3 2026 earnings at $2.10 EPS and FY2026 earnings at $8.54 EPS.
Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.13. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The firm's revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share.
A number of other research analysts have also recently issued reports on the stock. KeyCorp lifted their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. Oppenheimer started coverage on Applied Industrial Technologies in a research report on Tuesday, April 2nd. They issued an "outperform" rating and a $235.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $201.00.
Check Out Our Latest Analysis on AIT
Applied Industrial Technologies Stock Down 0.2 %
Shares of AIT stock traded down $0.32 during mid-day trading on Thursday, reaching $184.08. 221,618 shares of the company's stock traded hands, compared to its average volume of 337,435. The company's 50-day moving average price is $190.32 and its 200-day moving average price is $174.31. The company has a market cap of $7.12 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.98 and a beta of 1.08. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36. Applied Industrial Technologies has a 12 month low of $122.24 and a 12 month high of $201.76.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates increased its holdings in Applied Industrial Technologies by 13.1% in the 1st quarter. Raymond James & Associates now owns 14,939 shares of the industrial products company's stock worth $1,534,000 after buying an additional 1,726 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Applied Industrial Technologies in the first quarter worth approximately $271,000. Citigroup Inc. raised its holdings in shares of Applied Industrial Technologies by 3.4% during the first quarter. Citigroup Inc. now owns 38,917 shares of the industrial products company's stock valued at $3,995,000 after purchasing an additional 1,262 shares during the last quarter. Bank of Montreal Can lifted its position in Applied Industrial Technologies by 35.6% during the first quarter. Bank of Montreal Can now owns 16,704 shares of the industrial products company's stock valued at $1,702,000 after purchasing an additional 4,388 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Applied Industrial Technologies by 53.9% in the first quarter. MetLife Investment Management LLC now owns 20,446 shares of the industrial products company's stock worth $2,099,000 after purchasing an additional 7,164 shares during the last quarter. 93.52% of the stock is owned by institutional investors.
Insider Buying and Selling at Applied Industrial Technologies
In other news, VP Warren E. Hoffner III sold 2,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the sale, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is owned by company insiders.
Applied Industrial Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 15th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.80%. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, February 14th. Applied Industrial Technologies's dividend payout ratio is 15.53%.
Applied Industrial Technologies Company Profile
(
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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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