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 twelve months. 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 analysts have issued 1 year price targets for Applied Industrial Technologies' stock. Their AIT share price forecasts range from $129.00 to $140.00. On average, they predict the company's stock price to reach $134.50 in the next twelve months. This suggests a possible upside of 34.7% from the stock's current price.
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Applied Industrial Technologies' stock was trading at $102.70 at the beginning of 2022. Since then, AIT stock has decreased by 2.8% and is now trading at $99.86.
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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 daily trading volume, of 164,400 shares, the short-interest ratio is currently 3.5 days. Currently, 1.5% of the company's stock are short sold.
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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) issued its earnings results on Thursday, August, 11th. The industrial products company reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.36. The industrial products company earned $1.06 billion during the quarter, compared to analysts' expectations 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%. The business's quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.51 earnings per share.

Applied Industrial Technologies declared a quarterly dividend on Friday, June 24th. Investors of record on Monday, August 15th will be paid a dividend of $0.34 per share on Wednesday, August 31st. This represents a $1.36 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, August 12th.
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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 1.33%. 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 17.13% next year. This indicates that the company will be able to sustain or increase its dividend.
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Applied Industrial Technologies issued an update on its FY 2023 earnings guidance on Friday, September, 9th. The company provided EPS guidance of $6.65-$7.30 for the period, compared to the consensus earnings per share 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."

Applied Industrial Technologies' stock is owned by a number of institutional and retail investors. Top institutional shareholders include JPMorgan Chase & Co. (6.03%), Victory Capital Management Inc. (4.07%), State Street Corp (3.57%), FMR LLC (2.47%), Macquarie Group Ltd. (2.30%) and Boston Trust Walden Corp (1.89%). 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 $99.86.

Applied Industrial Technologies (NYSE:AIT) has a market capitalization of $3.85 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.