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 twelve months. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street research 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 stock price to reach $164.00 in the next twelve months. This suggests a possible upside of 13.0% from the stock's current price.
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Applied Industrial Technologies' stock was trading at $126.03 at the beginning of the year. Since then, AIT stock has increased by 15.1% and is now trading at $145.11.
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Applied Industrial Technologies saw a increase in short interest in January. As of January 15th, there was short interest totaling 484,300 shares, an increase of 5.4% from the December 31st total of 459,700 shares. Based on an average daily trading volume, of 181,100 shares, the short-interest ratio is presently 2.7 days. Currently, 1.3% of the shares of the company 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) posted its quarterly earnings data on Thursday, January, 26th. The industrial products company reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.34. The industrial products company earned $1.06 billion during the quarter, compared to analyst estimates of $996.44 million. Applied Industrial Technologies had a net margin of 7.32% and a trailing twelve-month return on equity of 25.58%. The company's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $1.46 earnings per share.

Applied Industrial Technologies announced a quarterly dividend on Thursday, January 26th. Shareholders of record on Wednesday, February 15th will be paid 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 0.96%. The ex-dividend date of this dividend is Tuesday, February 14th. This is a boost from the stock's previous quarterly dividend of $0.34.
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Applied Industrial Technologies (NYSE:AIT) pays an annual dividend of $1.36 per share and currently has a dividend yield of 0.94%. 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 17.46%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, AIT will have a dividend payout ratio of 15.65% next year. This indicates that the company will be able to sustain or increase its dividend.
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Applied Industrial Technologies updated its FY 2023 earnings guidance on Thursday, January, 26th. The company provided earnings per share guidance of $8.10-$8.50 for the period, compared to the consensus earnings per share 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 institutional and retail investors. Top institutional shareholders include Boston Trust Walden Corp (1.72%), New York State Common Retirement Fund (0.48%), Allspring Global Investments Holdings LLC (0.44%), Grace & White Inc. NY (0.42%), Ziegler Capital Management LLC (0.35%) and Scout Investments Inc. (0.26%). 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 $145.11.

Applied Industrial Technologies (NYSE:AIT) has a market capitalization of $5.60 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.