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NYSE:AIT

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

$157.64
+1.54 (+0.99%)
(As of 09/28/2023 ET)
Compare
Today's Range
$156.68
$159.52
50-Day Range
$141.27
$161.57
52-Week Range
$98.49
$162.67
Volume
319,015 shs
Average Volume
209,588 shs
Market Capitalization
$6.11 billion
P/E Ratio
17.83
Dividend Yield
0.89%
Price Target
$180.33

Applied Industrial Technologies MarketRank™ Forecast

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
14.4% Upside
$180.33 Price Target
Short Interest
Healthy
1.44% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-2.06
Upright™ Environmental Score
News Sentiment
1.30mentions of Applied Industrial Technologies in the last 14 days
Based on 6 Articles This Week
Insider Trading
Selling Shares
$6.13 M Sold Last Quarter
Proj. Earnings Growth
2.00%
From $9.02 to $9.20 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.64 out of 5 stars

Industrial Products Sector

44th out of 182 stocks

Machinery, Equipment, & Supplies Industry

2nd out of 6 stocks


AIT stock logo

About Applied Industrial Technologies (NYSE:AIT) Stock

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. It also operates fabricated rubber shops and service field crews that install, modify, and repair conveyor belts and rubber linings, as well as offer hose assemblies. In addition, the company provides technical support services; engages in the distribution of fluid power and industrial flow control products; advanced automation solutions, including machine vision, robotics, motion control, and smart technologies. It distributes industrial products through a network of service centers. The company serves various industries, including agriculture and food processing, cement, chemicals and petrochemicals, fabricated metals, forest products, industrial machinery and equipment, life sciences, mining, oil and gas, primary metals, technology, transportation, and utilities, as well as government entities. The company was formerly known as Bearings, Inc. and changed its to name to Applied Industrial Technologies, Inc. in 1997. The company was founded in 1923 and is headquartered in Cleveland, Ohio.

AIT Price History

AIT Stock News Headlines

Berry Global (BERY) to Advance Sustainability in Mexico
U.S. drive to onshore battery supply chains could create big winners in lithium
Investor Find Lithium Gold and Crush the Bear Market with 32k Metric Tons
U.S. drive to onshore battery supply chains could create big winners in lithium
Investor Find Lithium Gold and Crush the Bear Market with 32k Metric Tons
See More Headlines
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AIT Company Calendar

Last Earnings
8/10/2023
Ex-Dividend for 8/31 Dividend
8/14/2023
Dividend Payable
8/31/2023
Today
9/28/2023
Next Earnings (Estimated)
10/26/2023
Fiscal Year End
6/30/2024

Industry, Sector and Symbol

Industry
Machinery, equipment, & supplies
Sub-Industry
Trading Companies & Distributors
CUSIP
03820C10
Employees
6,200
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$180.33
High Stock Price Forecast
$185.00
Low Stock Price Forecast
$174.00
Forecasted Upside/Downside
+14.7%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
3 Analysts

Profitability

Net Income
$346.74 million
Pretax Margin
10.19%

Debt

Sales & Book Value

Annual Sales
$4.41 billion
Cash Flow
$10.46 per share
Book Value
$37.73 per share

Miscellaneous

Free Float
37,896,000
Market Cap
$6.09 billion
Optionable
Optionable
Beta
1.20
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Key Executives

  • Mr. Neil A. SchrimsherMr. Neil A. Schrimsher (Age 59)
    Pres, CEO & Director
    Comp: $2.87M
  • Mr. David K. Wells (Age 59)
    VP, CFO, Principal Accounting Officer & Treasurer
    Comp: $1.09M
  • Mr. Kurt W. LoringMr. Kurt W. Loring (Age 54)
    VP & Chief Human Resource Officer
    Comp: $776.92k
  • Mr. Ryan Dale Cieslak
    Director of Investor Relations & Assistant Treasurer
  • Mr. Jon S. Ploetz J.D. (Age 50)
    VP, Gen. Counsel & Sec.
  • Ms. Julie A. Kho
    Mang. of Corp. Communications & Media Relations
  • Joe Mangiapane
    Managing Director of Australia & New Zealand
  • Mr. Christopher MaceyMr. Christopher Macey (Age 50)
    Corp. Controller
  • Mike R. Allen
    Pres of Applied Industrial Technologies, LP - Canada
  • Sergio H. Nevárez
    Pres of Applied Mexico













AIT Stock - Frequently Asked Questions

Should I buy or sell Applied Industrial Technologies stock right now?

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.
View AIT analyst ratings
or view top-rated stocks.

What is Applied Industrial Technologies' stock price forecast for 2023?

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.
View analysts price targets for AIT
or view top-rated stocks among Wall Street analysts.

How have AIT shares performed in 2023?

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.
View the best growth stocks for 2023 here
.

Are investors shorting Applied Industrial Technologies?

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
.

When is Applied Industrial Technologies' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
View our AIT earnings forecast
.

How were Applied Industrial Technologies' earnings last quarter?

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.

How often does Applied Industrial Technologies pay dividends? What is the dividend yield for Applied Industrial Technologies?

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
.

Is Applied Industrial Technologies a good dividend stock?

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.

What guidance has Applied Industrial Technologies issued on next quarter's earnings?

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.

What is Neil A. Schrimsher's approval rating as Applied Industrial Technologies' CEO?

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.

What other stocks do shareholders of Applied Industrial Technologies own?

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).

What is Applied Industrial Technologies' stock symbol?

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

Who are Applied Industrial Technologies' major shareholders?

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.
View institutional ownership trends
.

How do I buy shares of Applied Industrial Technologies?

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.
Compare Top Brokerages Here.

What is Applied Industrial Technologies' stock price today?

One share of AIT stock can currently be purchased for approximately $157.19.

How much money does Applied Industrial Technologies make?

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.

How many employees does Applied Industrial Technologies have?

The company employs 6,200 workers across the globe.

How can I contact Applied Industrial Technologies?

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.

This page (NYSE:AIT) was last updated on 9/28/2023 by MarketBeat.com Staff

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