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 analysts have issued 1 year target prices for Applied Industrial Technologies' shares. Their AIT share price forecasts range from $160.00 to $170.00. On average, they anticipate the company's share price to reach $164.00 in the next twelve months. This suggests a possible upside of 22.4% 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 stock has increased by 6.3% and is now trading at $133.95.
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Applied Industrial Technologies saw a increase in short interest in February. As of February 15th, there was short interest totaling 477,600 shares, an increase of 8.5% from the January 31st total of 440,200 shares. Based on an average daily volume of 203,700 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.3% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, April 27th 2023.
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Applied Industrial Technologies, Inc. (NYSE:AIT) released its quarterly earnings data on Thursday, January, 26th. The industrial products company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.71 by $0.34. The industrial products company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $996.44 million. Applied Industrial Technologies had a trailing twelve-month return on equity of 25.58% and a net margin of 7.32%. The firm's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share.

Applied Industrial Technologies announced a quarterly dividend on Thursday, January 26th. Stockholders of record on Wednesday, February 15th will be given a dividend of $0.35 per share on Tuesday, February 28th. This represents a $1.40 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Tuesday, February 14th. This is a positive change from the stock's previous quarterly dividend of $0.34.
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), ProShares S&P Kensho Smart Factories ETF (MAKX), Dividend Performers ETF (IPDP), Nuveen Small Cap Select ETF (NSCS), iShares S&P Small-Cap 600 Growth ETF (IJT), SPDR S&P 600 Small Cap Growth ETF (SLYG), Vanguard S&P Small-Cap 600 Growth ETF (VIOG) and QRAFT AI-Enhanced U.S. Large Cap Momentum ETF (AMOM).

Applied Industrial Technologies (NYSE:AIT) pays an annual dividend of $1.40 per share and currently has a dividend yield of 1.06%. 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 17.97%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, AIT will have a dividend payout ratio of 16.11% 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 2023 earnings guidance on Thursday, January, 26th. The company provided earnings per share (EPS) guidance of $8.10-$8.50 for the period, compared to the consensus EPS estimate of $7.29. The company issued revenue guidance of $4.31 billion-$4.38 billion, compared to the consensus revenue estimate of $4.11 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 many different retail and institutional investors. Top institutional shareholders include JPMorgan Chase & Co. (4.85%), Fuller & Thaler Asset Management Inc. (3.33%), Victory Capital Management Inc. (2.96%), Victory Capital Management Inc. (2.96%), Macquarie Group Ltd. (2.45%) and Dimensional Fund Advisors LP (2.37%). 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 $133.95.

Applied Industrial Technologies (NYSE:AIT) has a market capitalization of $5.17 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 $7.79 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.