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 brokerages have issued 12-month price objectives for Applied Industrial Technologies' stock. Their AIT share price forecasts range from $160.00 to $170.00. On average, they predict the company's stock price to reach $164.00 in the next twelve months. This suggests a possible upside of 10.5% from the stock's current price.
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Applied Industrial Technologies' stock was trading at $126.03 on January 1st, 2023. Since then, AIT stock has increased by 17.8% and is now trading at $148.47.
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Applied Industrial Technologies saw a increase in short interest during the month of 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 currently 2.7 days. Approximately 1.3% of the company's shares 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 earnings results on Thursday, January, 26th. The industrial products company reported $2.05 earnings per share 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 net margin of 7.32% and a trailing twelve-month return on equity of 25.58%. The business's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS.

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 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, February 14th. This is an increase 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 0.95%. 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 15.63% 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 EPS 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 a variety of retail and institutional investors. Top institutional investors include Boston Trust Walden Corp (1.72%), New York State Common Retirement Fund (0.48%), Allspring Global Investments Holdings LLC (0.44%), Ziegler Capital Management LLC (0.35%), Scout Investments Inc. (0.26%) and Handelsinvest Investeringsforvaltning (0.24%). 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 $148.47.

Applied Industrial Technologies (NYSE:AIT) has a market capitalization of $5.73 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.