Applied Industrial Technologies, Inc. (AIT) To Go Ex-Dividend on November 14th

Applied Industrial Technologies, Inc. (NYSE:AIT) declared a quarterly dividend on Tuesday, October 21st. Shareholders of record on Friday, November 14th will be paid a dividend of 0.46 per share by the industrial products company on Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, November 14th.

Applied Industrial Technologies has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 16 years. Applied Industrial Technologies has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Applied Industrial Technologies to earn $10.77 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 17.1%.

Applied Industrial Technologies Trading Down 1.8%

AIT stock opened at $255.19 on Wednesday. The company has a quick ratio of 2.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.30. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.61 and a beta of 0.99. The business has a fifty day simple moving average of $258.12 and a 200-day simple moving average of $249.88. Applied Industrial Technologies has a 52 week low of $199.96 and a 52 week high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.16. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, equities research analysts expect that Applied Industrial Technologies will post 9.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America increased their target price on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Raymond James Financial downgraded shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Oppenheimer raised their target price on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Industrial Alliance Securities set a $290.00 target price on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Finally, Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $287.50.

About Applied Industrial Technologies

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.