Zacks Research Issues Pessimistic Estimate for AIT Earnings

Applied Industrial Technologies, Inc. (NYSE:AIT) – Analysts at Zacks Research reduced their Q3 2028 EPS estimates for shares of Applied Industrial Technologies in a research note issued to investors on Thursday, September 3rd. Zacks Research analyst Team now expects that the industrial products company will earn $3.20 per share for the quarter, down from their previous forecast of $3.21. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $11.96 per share. Zacks Research also issued estimates for Applied Industrial Technologies’ Q4 2028 earnings at $3.51 EPS.

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

A number of other brokerages have also commented on AIT. Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. KeyCorp boosted their price target on Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Oppenheimer boosted their target price on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, Bank of America increased their price target on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $400.00.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $326.88 on Wednesday. The business’s 50-day moving average price is $338.74 and its 200-day moving average price is $310.35. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.61 and a beta of 0.83. Applied Industrial Technologies has a 12 month low of $238.34 and a 12 month high of $374.80. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14.

Institutional Investors Weigh In On Applied Industrial Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in shares of Applied Industrial Technologies by 32,761.6% in the 2nd quarter. California State Teachers Retirement System now owns 14,593,201 shares of the industrial products company’s stock worth $4,934,691,000 after buying an additional 14,548,793 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Applied Industrial Technologies during the second quarter valued at approximately $1,336,805,000. First Trust Advisors LP increased its position in shares of Applied Industrial Technologies by 34.3% during 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 acquiring an additional 249,961 shares during the last quarter. Capital International Investors lifted its holdings in Applied Industrial Technologies by 25.4% during the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock worth $247,250,000 after acquiring an additional 195,043 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Applied Industrial Technologies by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock worth $199,355,000 after acquiring an additional 6,953 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Activity

In related news, Director Madhuri Andrews sold 3,845 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares of the company’s stock, valued at $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David Wells sold 1,812 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the transaction, the chief financial officer directly owned 32,050 shares in the company, valued at $11,380,955. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,561 shares of company stock worth $2,560,085 over the last quarter. Insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a $0.51 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio is currently 18.61%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.