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

3 Wall Street research 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 research analysts is that investors should "buy" AIT shares.
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3 Wall Street research analysts have issued 1-year target prices for Applied Industrial Technologies' shares. Their AIT share price forecasts range from $174.00 to $185.00. On average, they expect the company's stock price to reach $180.33 in the next twelve months. This suggests a possible upside of 16.6% from the stock's current price.
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Applied Industrial Technologies' stock was trading at $126.03 at the start of the year. Since then, AIT stock has increased by 22.7% and is now trading at $154.61.
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Applied Industrial Technologies saw a decline in short interest in 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 days-to-cover ratio is currently 2.7 days. Currently, 1.4% of the company's shares 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.
View our AIT earnings forecast.

Applied Industrial Technologies, Inc. (NYSE:AIT) posted its earnings results on Thursday, August, 10th. The industrial products company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.17 by $0.18. The industrial products company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.12 billion. Applied Industrial Technologies had a trailing twelve-month return on equity of 25.62% and a net margin of 7.86%. Applied Industrial Technologies's revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.02 earnings per share.

Applied Industrial Technologies announced 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 annualized dividend and a yield of 0.91%. 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 0.89%. 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 EPS 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."

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 $154.61.

Applied Industrial Technologies (NYSE:AIT) has a market capitalization of $5.99 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.