Zacks Research Issues Negative Forecast for AIT Earnings

Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) - Equities research analysts at Zacks Research lowered their Q3 2027 earnings per share estimates for shares of Applied Industrial Technologies in a research note issued to investors on Thursday, July 10th. Zacks Research analyst S. Roy now expects that the industrial products company will post earnings per share of $2.96 for the quarter, down from their prior estimate of $2.97. The consensus estimate for Applied Industrial Technologies' current full-year earnings is $9.90 per share.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.17. Applied Industrial Technologies had a net margin of 8.64% and a return on equity of 22.01%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $2.48 EPS. The company's revenue was up 1.8% on a year-over-year basis.

AIT has been the topic of a number of other research reports. Raymond James Financial reiterated an "outperform" rating and issued a $250.00 target price (down previously from $265.00) on shares of Applied Industrial Technologies in a report on Friday, May 2nd. Loop Capital reduced their price objective on Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Finally, KeyCorp reduced their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $285.00.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $253.92 on Monday. The company has a market cap of $9.67 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.09 and a beta of 0.91. The firm's 50 day moving average is $231.65 and its two-hundred day moving average is $237.56. Applied Industrial Technologies has a fifty-two week low of $188.71 and a fifty-two week high of $282.98. The company has a quick ratio of 2.51, a current ratio of 3.57 and a debt-to-equity ratio of 0.31.

Institutional Trading of Applied Industrial Technologies

Several large investors have recently bought and sold shares of AIT. Baird Financial Group Inc. lifted its holdings in Applied Industrial Technologies by 2.5% in the fourth quarter. Baird Financial Group Inc. now owns 1,588 shares of the industrial products company's stock worth $380,000 after acquiring an additional 39 shares during the last quarter. OneAscent Financial Services LLC raised its position in shares of Applied Industrial Technologies by 4.1% during the 4th quarter. OneAscent Financial Services LLC now owns 1,038 shares of the industrial products company's stock worth $249,000 after purchasing an additional 41 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Applied Industrial Technologies by 51.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock worth $29,000 after purchasing an additional 44 shares during the last quarter. Huntington National Bank grew its stake in Applied Industrial Technologies by 33.8% during the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock worth $45,000 after buying an additional 47 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Applied Industrial Technologies by 31.1% in the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company's stock valued at $48,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies declared that its board has initiated a share repurchase plan on Thursday, May 1st that permits the company to buyback 1,500,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, August 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.47%.

Applied Industrial Technologies Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.