NYSE:AIT

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

$196.99
+0.13 (+0.07%)
(As of 05/17/2024 ET)
Today's Range
$195.17
$197.63
50-Day Range
$178.79
$201.09
52-Week Range
$122.24
$201.76
Volume
114,600 shs
Average Volume
324,086 shs
Market Capitalization
$7.60 billion
P/E Ratio
20.65
Dividend Yield
0.75%
Price Target
$201.00

Applied Industrial Technologies MarketRank™ Stock Analysis

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
2.0% Upside
$201.00 Price Target
Short Interest
Healthy
2.21% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-2.06
Upright™ Environmental Score
News Sentiment
1.47mentions of Applied Industrial Technologies in the last 14 days
Based on 6 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
1.25%
From $9.60 to $9.72 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.63 out of 5 stars

Industrial Products Sector

79th out of 166 stocks

Machinery, Equipment, & Supplies Industry

3rd out of 6 stocks

AIT stock logo

About Applied Industrial Technologies Stock (NYSE:AIT)

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 Stock Price History

AIT Stock News Headlines

AIT Aug 2024 240.000 call
AIT May 2024 175.000 put
Applied Industrial Technologies, Inc.
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Company Calendar

Ex-Dividend for 2/29 Dividend
2/14/2024
Dividend Payable
2/29/2024
Last Earnings
4/25/2024
Ex-Dividend for 5/31 Dividend
5/14/2024
Today
5/17/2024
Dividend Payable
5/31/2024
Fiscal Year End
6/30/2024
Next Earnings (Estimated)
8/08/2024

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 Target
$201.00
High Stock Price Target
$235.00
Low Stock Price Target
$174.00
Potential Upside/Downside
+2.0%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
4 Analysts

Profitability

Net Income
$346.74 million
Pretax Margin
10.72%

Debt

Sales & Book Value

Annual Sales
$4.48 billion
Cash Flow
$10.18 per share
Book Value
$43.24 per share

Miscellaneous

Free Float
37,754,000
Market Cap
$7.60 billion
Optionable
Optionable
Beta
1.10
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Key Executives


AIT Stock Analysis - Frequently Asked Questions

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

4 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Applied Industrial Technologies in the last year. There are currently 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" AIT shares.
View AIT analyst ratings
or view top-rated stocks.

What is Applied Industrial Technologies' stock price target for 2024?

4 equities research analysts have issued twelve-month price targets for Applied Industrial Technologies' stock. Their AIT share price targets range from $174.00 to $235.00. On average, they predict the company's share price to reach $201.00 in the next twelve months. This suggests a possible upside of 2.0% 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 2024?

Applied Industrial Technologies' stock was trading at $172.69 at the start of the year. Since then, AIT stock has increased by 14.1% and is now trading at $196.99.
View the best growth stocks for 2024 here
.

Are investors shorting Applied Industrial Technologies?

Applied Industrial Technologies saw a increase in short interest in the month of April. As of April 15th, there was short interest totaling 807,700 shares, an increase of 55.7% from the March 31st total of 518,900 shares. Based on an average daily volume of 374,100 shares, the short-interest ratio is presently 2.2 days. Currently, 2.1% of the shares of the company are short sold.
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, August 8th 2024.
View our AIT earnings forecast
.

How were Applied Industrial Technologies' earnings last quarter?

Applied Industrial Technologies, Inc. (NYSE:AIT) posted its earnings results on Thursday, April, 25th. The industrial products company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.40 by $0.08. The industrial products company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.13 billion. Applied Industrial Technologies had a trailing twelve-month return on equity of 23.69% and a net margin of 8.36%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.38 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 Thursday, April 25th. Investors of record on Wednesday, May 15th will be given a dividend of $0.37 per share on Friday, May 31st. This represents a $1.48 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, May 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 $1.48 per share and currently has a dividend yield of 0.76%. The company has been increasing its dividend for 15 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 15.51%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, AIT will have a dividend payout ratio of 15.23% 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, April, 25th. The company provided EPS guidance of 9.550-9.700 for the period, compared to the consensus earnings per share estimate of 9.660. The company issued revenue guidance of $4.5 billion-$4.5 billion, compared to the consensus revenue estimate of $4.5 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).

Who are Applied Industrial Technologies' major shareholders?

Applied Industrial Technologies' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (12.00%), Allspring Global Investments Holdings LLC (1.26%), Allspring Global Investments Holdings LLC (1.26%), Assenagon Asset Management S.A. (0.80%), Acadian Asset Management LLC (0.72%) and Principal Financial Group Inc. (0.52%). Insiders that own company stock include Fred D Bauer, Kurt W Loring, Mary Dean Hall, Neil A Schrimsher, Peter A Dorsman, Peter C Wallace, Vincent K Petrella and Warren E Hoffner III.
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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:AIT) was last updated on 5/18/2024 by MarketBeat.com Staff

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