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 twelve months. 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 1 year price targets for Applied Industrial Technologies' shares. Their AIT share price forecasts range from $174.00 to $185.00. On average, they expect the company's share price to reach $180.33 in the next twelve months. This suggests a possible upside of 14.7% from the stock's current price.
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Applied Industrial Technologies' stock was trading at $126.03 at the beginning of 2023. Since then, AIT shares have increased by 24.7% and is now trading at $157.19.
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Applied Industrial Technologies saw a decline in short interest in the month of September. As of September 15th, there was short interest totaling 548,400 shares, a decline of 22.7% from the August 31st total of 709,000 shares. Based on an average daily trading volume, of 201,500 shares, the short-interest ratio is currently 2.7 days. Currently, 1.4% of the shares of the stock are sold short.
View Applied Industrial Technologies' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
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Applied Industrial Technologies, Inc. (NYSE:AIT) announced its quarterly earnings data on Thursday, August, 10th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.18. The industrial products company earned $1.16 billion during the quarter, compared to analysts' expectations of $1.12 billion. Applied Industrial Technologies had a net margin of 7.86% and a trailing twelve-month return on equity of 25.62%. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.02 EPS.

Applied Industrial Technologies declared a quarterly dividend on Friday, June 23rd. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.35 per share on Thursday, August 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, August 14th.
Read our dividend analysis for AIT.

ETFs with the largest weight of Applied Industrial Technologies (NYSE:AIT) stock in their portfolio include Tema American Reshoring ETF (RSHO), Invesco S&P SmallCap Industrials ETF (PSCI), ProShares S&P Kensho Smart Factories ETF (MAKX), Invesco S&P SmallCap Momentum ETF (XSMO), Dividend Performers ETF (IPDP), Invesco S&P SmallCap Quality ETF (XSHQ), SRH U.S. Quality ETF (SRHQ) and Profound Medical (PRN).

Applied Industrial Technologies (NYSE:AIT) pays an annual dividend of $1.40 per share and currently has a dividend yield of 0.90%. 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 15.84%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, AIT will have a dividend payout ratio of 15.22% 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 updated its FY 2024 earnings guidance on Thursday, August, 10th. The company provided earnings per share guidance of $8.80-$9.55 for the period, compared to the consensus estimate of $8.65. The company issued revenue guidance of $4.41 billion-$4.59 billion, compared to the consensus revenue estimate of $4.41 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 institutional and retail investors. Top institutional investors include BlackRock Inc. (16.20%), JPMorgan Chase & Co. (4.43%), State Street Corp (3.56%), Dimensional Fund Advisors LP (2.35%), Geode Capital Management LLC (1.92%) and Victory Capital Management Inc. (1.86%). 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 $157.19.

Applied Industrial Technologies (NYSE:AIT) has a market capitalization of $6.09 billion and generates $4.41 billion in revenue each year. The industrial products company earns $346.74 million in net income (profit) each year or $8.84 on an earnings per share basis.

The company employs 6,200 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.