Applied Industrial Technologies, Inc. (NYSE:AIT) Forecasted to Post FY2027 Earnings of $11.91 Per Share

Applied Industrial Technologies, Inc. (NYSE:AIT) – Zacks Research lifted their FY2027 earnings estimates for Applied Industrial Technologies in a research report issued on Thursday, September 12th. Zacks Research analyst S. Roy now anticipates that the industrial products company will post earnings of $11.91 per share for the year, up from their previous forecast of $11.89. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $9.86 per share.

A number of other research analysts also recently commented on the stock. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Raymond James started coverage on shares of Applied Industrial Technologies in a research note on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price objective on the stock. Loop Capital increased their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. StockNews.com downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average price target of $223.00.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $203.98 on Friday. The company has a market capitalization of $7.82 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.03. The firm has a fifty day simple moving average of $201.44 and a 200-day simple moving average of $194.51. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies has a twelve month low of $149.59 and a twelve month high of $223.15.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, August 15th. The industrial products company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.12. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 earnings per share.

Hedge Funds Weigh In On Applied Industrial Technologies

Several large investors have recently made changes to their positions in AIT. Capital Research Global Investors boosted its holdings in shares of Applied Industrial Technologies by 978.3% in the fourth quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock worth $96,646,000 after buying an additional 507,750 shares during the period. Norges Bank acquired a new position in shares of Applied Industrial Technologies in the fourth quarter worth about $72,436,000. Dundas Partners LLP acquired a new position in shares of Applied Industrial Technologies in the second quarter worth about $46,805,000. Nordea Investment Management AB acquired a new position in shares of Applied Industrial Technologies in the first quarter worth about $39,093,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Applied Industrial Technologies in the fourth quarter worth about $27,043,000. Institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total transaction of $703,561.32. Following the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total transaction of $703,561.32. Following the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,927 shares of company stock valued at $2,439,116. Company insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.37 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.48 annualized dividend and a yield of 0.73%. Applied Industrial Technologies’s payout ratio is 15.51%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. 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.