Zacks Research Has Positive Outlook of AIT FY2028 Earnings

Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities researchers at Zacks Research boosted their FY2028 earnings estimates for shares of Applied Industrial Technologies in a research report issued on Thursday, September 17th. Zacks Research analyst Team now expects that the industrial products company will earn $12.80 per share for the year, up from their prior estimate of $12.77. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $11.96 per share.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.25. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS.

Several other equities research analysts also recently weighed in on AIT. DA Davidson boosted their target price on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. KeyCorp upped their price target on Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Mizuho raised their price objective on Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Bank of America boosted their target price on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $400.00.

Applied Industrial Technologies Price Performance

AIT opened at $317.08 on Friday. Applied Industrial Technologies has a twelve month low of $238.34 and a twelve month high of $374.80. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 2.53 and a beta of 0.83. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $337.84 and a 200 day simple moving average of $312.19.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio is presently 18.61%.

Insider Activity at Applied Industrial Technologies

In related news, Director Peter Wallace sold 1,904 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $340.45, for a total value of $648,216.80. Following the sale, the director owned 22,859 shares of the company’s stock, valued at approximately $7,782,346.55. This trade represents a 7.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David Wells sold 1,812 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total value of $643,441.20. Following the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at $11,380,955. This represents a 5.35% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Applied Industrial Technologies

A number of large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at about $1,336,805,000. First Trust Advisors LP increased its stake in shares of Applied Industrial Technologies by 34.3% in the first quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock valued at $259,706,000 after purchasing an additional 249,961 shares during the period. Capital International Investors increased its stake in shares of Applied Industrial Technologies by 25.4% in the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock valued at $247,250,000 after purchasing an additional 195,043 shares during the period. Geode Capital Management LLC raised its holdings in shares of Applied Industrial Technologies by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock valued at $176,479,000 after buying an additional 1,889 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Applied Industrial Technologies during the fourth quarter worth approximately $125,044,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider for industrial and maintenance, repair and operations (MRO) markets. The company supplies products used to keep manufacturing, processing, infrastructure and other industrial operations running, including bearings, power-transmission components, industrial motion products, fluid power equipment, hose and fittings, industrial rubber products, safety supplies and automation components.

In addition to product distribution, Applied Industrial Technologies provides engineering, design, fabrication, repair, assembly, technical support and other application-focused services.