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NYSE:AIT

Applied Industrial Technologies - AIT Stock Forecast, Price & News

$109.41
+3.65 (+3.45%)
(As of 10/4/2022 02:55 PM ET)
Add
Compare
Today's Range
$108.00
$109.76
50-Day Range
$95.55
$118.89
52-Week Range
$88.09
$121.20
Volume
8,001 shs
Average Volume
165,427 shs
Market Capitalization
$4.22 billion
P/E Ratio
16.60
Dividend Yield
1.32%
Price Target
$129.50

Applied Industrial Technologies MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.50 Rating Score
Upside/​Downside
18.8% Upside
$129.50 Price Target
Short Interest
Healthy
1.61% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-3.14
Upright™ Environmental Score
News Sentiment
-0.23mentions of Applied Industrial Technologies in the last 14 days
Based on 13 Articles This Week
Insider Trading
Selling Shares
$1.16 M Sold Last Quarter
Proj. Earnings Growth
6.68%
From $7.19 to $7.67 Per Share

Overall MarketRank

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

2.29 out of 5 stars

Industrial Products Sector

91st out of 186 stocks

Machinery, Equipment, & Supplies Industry

2nd out of 5 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 through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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 equipment repair and technical support services. 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.

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AIT Stock News Headlines

ABB to Exit Remaining Stake in Hitachi Energy Joint Venture
Cintas (CTAS) Beats on Q1 Earnings, Raises FY23 Guidance
Applied Industrial (AIT) Up 15.6% in 3 Months: Here's Why
Reasons Why You Should Avoid Investing in Roper (ROP) Now
Ingersoll Rand (IR) to Buy Pedro Gil, To Boost Spanish Base
Applied Industrial Technologies Elects New Board Member
See More Headlines
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AIT Company Calendar

Last Earnings
8/11/2022
Ex-Dividend for 8/31 Dividend
8/12/2022
Dividend Payable
8/31/2022
Today
10/04/2022
Next Earnings (Estimated)
10/26/2022
Fiscal Year End
6/30/2023

Industry, Sector and Symbol

Industry
Machinery, equipment, & supplies
Sub-Industry
Trading Companies & Distributors
CUSIP
03820C10
Employees
6,100
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$129.50
High Stock Price Forecast
$130.00
Low Stock Price Forecast
$129.00
Forecasted Upside/Downside
+18.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.50
Research Coverage
2 Analysts

Profitability

Net Income
$257.41 million
Pretax Margin
8.65%

Debt

Sales & Book Value

Annual Sales
$3.81 billion
Cash Flow
$8.70 per share
Book Value
$29.90 per share

Miscellaneous

Free Float
37,722,000
Market Cap
$4.22 billion
Optionable
Optionable
Beta
1.13

Key Executives

  • Mr. Neil A. SchrimsherMr. Neil A. Schrimsher (Age 58)
    Pres, CEO & Director
    Comp: $2.73M
  • Mr. David K. Wells (Age 59)
    VP, CFO & Treasurer
    Comp: $1M
  • Mr. Fred D. BauerMr. Fred D. Bauer (Age 56)
    VP, Gen. Counsel & Sec.
    Comp: $881.97k
  • Mr. Kurt W. Loring (Age 53)
    VP & Chief Human Resource Officer
    Comp: $749.81k
  • Mr. Ryan Dale Cieslak
    Director of Investor Relations & Assistant Treasurer
  • Ms. Julie A. Kho
    Mang. of Corp. Communications & Media Relations
  • Mr. Jason W. Vasquez
    VP of Sales & Marketing
  • Joe Mangiapane
    Managing Director of Australia & New Zealand
  • Mr. Christopher  MaceyMr. Christopher Macey (Age 49)
    Corp. Controller
  • Mike R. Allen
    Pres of Applied Industrial Technologies, LP - Canada













AIT Stock - Frequently Asked Questions

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

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

What is Applied Industrial Technologies' stock price forecast for 2022?

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

How have AIT shares performed in 2022?

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.
View the best growth stocks for 2022 here
.

Are investors shorting Applied Industrial Technologies?

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.
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 Wednesday, October 26th 2022.
View our AIT earnings forecast
.

How were Applied Industrial Technologies' earnings last quarter?

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.

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

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
.

Is Applied Industrial Technologies a good dividend stock?

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.

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

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.

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."

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 $109.33.

How much money does Applied Industrial Technologies make?

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.

How many employees does Applied Industrial Technologies have?

The company employs 6,100 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 10/4/2022 by MarketBeat.com Staff

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