Equities analysts expect Applied Industrial Technologies (NYSE:AIT) to report sales of $880.30 million for the current quarter, Zacks reports. Two analysts have made estimates for Applied Industrial Technologies’ earnings, with estimates ranging from $858.50 million to $902.10 million. Applied Industrial Technologies posted sales of $681.47 million during the same quarter last year, which suggests a positive year-over-year growth rate of 29.2%. The firm is scheduled to issue its next quarterly earnings results on Friday, August 10th.

On average, analysts expect that Applied Industrial Technologies will report full-year sales of $3.07 billion for the current fiscal year, with estimates ranging from $3.06 billion to $3.08 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.56 billion per share, with estimates ranging from $3.54 billion to $3.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Applied Industrial Technologies.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, April 26th. The industrial products company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.11. The firm had revenue of $827.67 million during the quarter, compared to analysts’ expectations of $803.23 million. Applied Industrial Technologies had a return on equity of 17.52% and a net margin of 5.40%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Applied Industrial Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 target price for the company in a research note on Tuesday, May 1st. ValuEngine cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $68.50.

AIT stock traded up $0.85 during trading on Monday, hitting $74.80. 3,094 shares of the company’s stock were exchanged, compared to its average volume of 243,312. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.67 and a beta of 0.94. Applied Industrial Technologies has a 52-week low of $54.00 and a 52-week high of $75.40. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 1.26.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Shareholders of record on Tuesday, May 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, May 14th. Applied Industrial Technologies’s dividend payout ratio is currently 42.25%.

In other Applied Industrial Technologies news, Director Peter C. Wallace sold 3,700 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $73.04, for a total value of $270,248.00. Following the completion of the sale, the director now owns 25,337 shares in the company, valued at $1,850,614.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter C. Wallace sold 737 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $73.04, for a total value of $53,830.48. Following the completion of the sale, the director now owns 22,374 shares of the company’s stock, valued at approximately $1,634,196.96. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AIT. Bruderman Asset Management LLC purchased a new stake in Applied Industrial Technologies in the first quarter valued at approximately $160,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Applied Industrial Technologies by 39.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,600 shares of the industrial products company’s stock valued at $177,000 after buying an additional 730 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $206,000. LPL Financial LLC acquired a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $212,000. Finally, Premia Global Advisors LLC acquired a new position in shares of Applied Industrial Technologies in the first quarter valued at approximately $232,000. Institutional investors own 88.22% of the company’s stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in the United States, Puerto Rico, Canada, Mexico, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center-Based Distribution and Fluid Power Businesses.

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