Applied Industrial Technologies (AIT) Stock Price, News & Analysis

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Applied Industrial Technologies in the last twelve months. There are currently 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" AIT shares.
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4 Wall Street analysts have issued 1 year price objectives for Applied Industrial Technologies' stock. Their AIT share price targets range from $174.00 to $235.00. On average, they anticipate the company's share price to reach $201.00 in the next twelve months. This suggests a possible upside of 9.2% from the stock's current price.
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Applied Industrial Technologies' stock was trading at $172.69 at the beginning of 2024. Since then, AIT stock has increased by 6.6% and is now trading at $184.08.
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Applied Industrial Technologies saw a decline in short interest during the month of March. As of March 31st, there was short interest totaling 518,900 shares, a decline of 17.5% from the March 15th total of 628,600 shares. Based on an average daily volume of 358,200 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.4% 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 25th 2024.
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Applied Industrial Technologies will be holding an earnings conference call on Thursday, April 25th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at 647-362-9199 with passcode "6868675".

Applied Industrial Technologies, Inc. (NYSE:AIT) released its quarterly earnings data on Thursday, January, 25th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.11 by $0.13. The industrial products company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Applied Industrial Technologies had a trailing twelve-month return on equity of 24.59% and a net margin of 8.39%. The company's revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $2.05 EPS.

Applied Industrial Technologies announced a quarterly dividend on Thursday, January 25th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.37 per share on Thursday, February 29th. This represents a $1.48 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from the stock's previous quarterly dividend of $0.35.
Read our dividend analysis for AIT.

Applied Industrial Technologies (NYSE:AIT) pays an annual dividend of $1.48 per share and currently has a dividend yield of 0.78%. The company has been increasing its dividend for 15 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 15.53%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, AIT will have a dividend payout ratio of 15.26% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for AIT.

ETFs with the largest weight of Applied Industrial Technologies (NYSE:AIT) stock in their portfolio include Tema American Reshoring ETF (RSHO), ProShares S&P Kensho Smart Factories ETF (MAKX), Dividend Performers ETF (IPDP), SRH U.S. Quality ETF (SRHQ), Invesco Dorsey Wright Industrials Momentum ETF (PRN), American Century STOXX U.S. Quality Growth ETF (QGRO), Nuveen Small Cap Select ETF (NSCS) and Vanguard S&P Small-Cap 600 Growth ETF (VIOG).

Applied Industrial Technologies issued an update on its FY 2024 earnings guidance on Friday, January, 26th. The company provided EPS guidance of 9.350-9.700 for the period, compared to the consensus earnings per share estimate of 9.480. The company issued revenue guidance of $4.5 billion-$4.5 billion, compared to the consensus revenue estimate of $4.5 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' stock is owned by many different institutional and retail investors. Top institutional investors include Allspring Global Investments Holdings LLC (1.26%), Hennessy Advisors Inc. (0.48%), Los Angeles Capital Management LLC (0.08%), Romano Brothers AND Company (0.07%), Ausbil Investment Management Ltd (0.04%) and State of Michigan Retirement System (0.02%). Insiders that own company stock include Christopher Macey, Fred D Bauer, Fred D Bauer, Kurt W Loring, Mary Dean Hall, Neil A Schrimsher, Peter A Dorsman, Peter C Wallace, Vincent K Petrella and Warren E Hoffner III.
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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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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