Applied Industrial Technologies (AIT) Stock Forecast, Price & News

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Applied Industrial Technologies in the last year. There are currently 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" AIT shares.
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3 Wall Street research analysts have issued 12-month target prices for Applied Industrial Technologies' shares. Their AIT share price forecasts range from $161.00 to $170.00. On average, they predict the company's share price to reach $164.33 in the next twelve months. This suggests a possible upside of 28.3% from the stock's current price.
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Applied Industrial Technologies' stock was trading at $126.03 on January 1st, 2023. Since then, AIT stock has increased by 1.6% and is now trading at $128.09.
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Applied Industrial Technologies saw a increase in short interest in April. As of April 30th, there was short interest totaling 536,900 shares, an increase of 19.7% from the April 15th total of 448,700 shares. Based on an average daily volume of 213,800 shares, the short-interest ratio is currently 2.5 days. Approximately 1.4% of the company's stock are short sold.
View Applied Industrial Technologies' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, August 10th 2023.
View our AIT earnings forecast.

Applied Industrial Technologies, Inc. (NYSE:AIT) posted its quarterly earnings results on Thursday, January, 26th. The industrial products company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.34. The industrial products company earned $1.06 billion during the quarter, compared to analysts' expectations of $996.44 million. Applied Industrial Technologies had a trailing twelve-month return on equity of 26.15% and a net margin of 7.73%. Applied Industrial Technologies's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS.

Applied Industrial Technologies announced a quarterly dividend on Thursday, April 27th. Stockholders of record on Monday, May 15th will be paid a dividend of $0.35 per share on Wednesday, May 31st. This represents a $1.40 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, May 12th.
Read our dividend analysis for AIT.

ETFs with the largest weight of Applied Industrial Technologies (NYSE:AIT) stock in their portfolio include Invesco S&P SmallCap Industrials ETF (PSCI), Invesco S&P SmallCap Momentum ETF (XSMO), ProShares S&P Kensho Smart Factories ETF (MAKX), Invesco S&P SmallCap Quality ETF (XSHQ), Dividend Performers ETF (IPDP), Invesco DWA Industrials Momentum ETF (PRN), Nuveen Small Cap Select ETF (NSCS) and Vanguard S&P Small-Cap 600 Growth ETF (VIOG).

Applied Industrial Technologies (NYSE:AIT) pays an annual dividend of $1.40 per share and currently has a dividend yield of 1.09%. The company has been increasing its dividend for 14 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 16.45%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, AIT will have a dividend payout ratio of 15.96% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for AIT.

Applied Industrial Technologies issued an update on its FY 2023 earnings guidance on Thursday, April, 27th. The company provided EPS guidance of $8.47-$8.60 for the period, compared to the consensus earnings per share estimate of $8.32. The company issued revenue guidance of $4.34 billion-$4.38 billion, compared to the consensus revenue estimate of $4.35 billion.

86 employees have rated Applied Industrial Technologies Chief Executive Officer Neil A. Schrimsher on Glassdoor.com. Neil A. Schrimsher has an approval rating of 58% among the company's employees. This puts Neil A. Schrimsher in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. 58.0% of employees surveyed would recommend working at Applied Industrial Technologies to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other Applied Industrial Technologies investors own include AbbVie (ABBV), QUALCOMM (QCOM), AT&T (T), Chevron (CVX), Danaher (DHR), Gilead Sciences (GILD), Intel (INTC), Mastercard (MA), Oracle (ORCL) and Pfizer (PFE).

Applied Industrial Technologies trades on the New York Stock Exchange (NYSE) under the ticker symbol "AIT."

Applied Industrial Technologies' stock is owned by a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (16.20%), JPMorgan Chase & Co. (4.40%), State Street Corp (3.51%), FMR LLC (3.32%), Dimensional Fund Advisors LP (2.38%) and Wellington Management Group LLP (2.26%). Insiders that own company stock include Christopher Macey, Fred D Bauer, Fred D Bauer, Kurt W Loring, Neil A Schrimsher, Peter A Dorsman, Peter C Wallace and Vincent K Petrella.
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Shares of AIT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of AIT stock can currently be purchased for approximately $128.09.

Applied Industrial Technologies (NYSE:AIT) has a market capitalization of $4.95 billion and generates $3.81 billion in revenue each year. The industrial products company earns $257.41 million in net income (profit) each year or $8.51 on an earnings per share basis.

The company employs 6,100 workers across the globe.

Applied Industrial Technologies' mailing address is ONE APPLIED PLAZA, CLEVELAND OH, 44115. The official website for the company is www.applied.com. The industrial products company can be reached via phone at (216) 426-4000, via email at ir@applied.com, or via fax at 216-426-4845.