Applied Industrial Technologies - AIT Stock Forecast, Price & News

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Applied Industrial Technologies in the last year. There are currently 1 hold rating and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "buy" AIT shares.
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2 Wall Street research analysts have issued 1 year price objectives for Applied Industrial Technologies' shares. Their AIT share price forecasts range from $129.00 to $130.00. On average, they expect the company's share price to reach $129.50 in the next year. This suggests a possible upside of 18.4% from the stock's current price.
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Applied Industrial Technologies' stock was trading at $102.70 on January 1st, 2022. Since then, AIT stock has increased by 6.5% and is now trading at $109.33.
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Applied Industrial Technologies saw a increase in short interest during the month of August. As of August 31st, there was short interest totaling 579,000 shares, an increase of 8.6% from the August 15th total of 533,200 shares. Based on an average trading volume of 164,400 shares, the days-to-cover ratio is currently 3.5 days. Currently, 1.5% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, October 26th 2022.
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Applied Industrial Technologies, Inc. (NYSE:AIT) released its earnings results on Thursday, August, 11th. The industrial products company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.66 by $0.36. The industrial products company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $977.43 million. Applied Industrial Technologies had a net margin of 6.76% and a trailing twelve-month return on equity of 24.25%. Applied Industrial Technologies's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.51 earnings per share.

Applied Industrial Technologies announced a quarterly dividend on Friday, June 24th. Investors of record on Monday, August 15th will be given a dividend of $0.34 per share on Wednesday, August 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, August 12th.
Read our dividend analysis for AIT.

Applied Industrial Technologies (NYSE:AIT) pays an annual dividend of $1.36 per share and currently has a dividend yield of 1.32%. The company has been increasing its dividend for 12 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 20.64%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, AIT will have a dividend payout ratio of 17.73% 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 issued an update on its FY 2023 earnings guidance on Friday, September, 9th. The company provided earnings per share guidance of $6.65-$7.30 for the period, compared to the consensus estimate of $6.61. The company issued revenue guidance of $3.92 billion-$4.08 billion, compared to the consensus revenue estimate of $3.92 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 $109.33.

Applied Industrial Technologies (NYSE:AIT) has a market capitalization of $4.22 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 $6.59 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.