Equities Analysts Issue Forecasts for Applied Industrial Technologies, Inc.’s FY2024 Earnings (NYSE:AIT)

Applied Industrial Technologies, Inc. (NYSE:AIT) – Zacks Research boosted their FY2024 earnings per share (EPS) estimates for Applied Industrial Technologies in a research report issued to clients and investors on Wednesday, April 24th. Zacks Research analyst S. Roy now expects that the industrial products company will post earnings per share of $9.45 for the year, up from their previous forecast of $9.43. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $9.50 per share. Zacks Research also issued estimates for Applied Industrial Technologies’ Q4 2024 earnings at $2.43 EPS, Q3 2025 earnings at $2.31 EPS and FY2026 earnings at $8.55 EPS.

Other equities analysts also recently issued research reports about the company. Oppenheimer initiated coverage on Applied Industrial Technologies in a research report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 price target on the stock. KeyCorp increased their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Applied Industrial Technologies currently has an average rating of “Buy” and an average price target of $201.00.

Applied Industrial Technologies Trading Up 1.1 %

AIT stock opened at $180.89 on Thursday. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36. Applied Industrial Technologies has a 52-week low of $122.24 and a 52-week high of $201.76. The company’s 50-day simple moving average is $189.87 and its 200-day simple moving average is $175.46. The firm has a market cap of $7.00 billion, a P/E ratio of 18.98, a PEG ratio of 1.96 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $2.38 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s payout ratio is 15.53%.

Insiders Place Their Bets

In other news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total value of $364,680.00. Following the transaction, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC grew its holdings in shares of Applied Industrial Technologies by 1.2% during the first quarter. Measured Wealth Private Client Group LLC now owns 4,905 shares of the industrial products company’s stock worth $969,000 after buying an additional 59 shares in the last quarter. Meritage Portfolio Management boosted its position in Applied Industrial Technologies by 2.0% during the fourth quarter. Meritage Portfolio Management now owns 3,638 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 73 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Applied Industrial Technologies by 0.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 9,933 shares of the industrial products company’s stock valued at $1,536,000 after acquiring an additional 77 shares in the last quarter. Blue Trust Inc. raised its holdings in Applied Industrial Technologies by 0.8% in the 4th quarter. Blue Trust Inc. now owns 11,101 shares of the industrial products company’s stock valued at $1,917,000 after acquiring an additional 86 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Applied Industrial Technologies by 6.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,652 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 93 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.