Zacks Research Issues Positive Outlook for AIT Earnings

Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities researchers at Zacks Research raised their Q4 2028 earnings per share estimates for Applied Industrial Technologies in a report released on Monday, September 21st. Zacks Research analyst Team now forecasts that the industrial products company will post earnings per share of $3.53 for the quarter, up from their prior estimate of $3.51. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $11.96 per share.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, topping 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 company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company earned $2.80 earnings per share. The firm’s revenue for the quarter 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 research firms have also issued reports on AIT. Bank of America raised 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. KeyCorp boosted their target price on Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Oppenheimer lifted their price objective on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. DA Davidson lifted their target price on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Buy” and a consensus target price of $400.00.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $330.08 on Wednesday. The stock has a market cap of $12.12 billion, a P/E ratio of 30.12, a P/E/G ratio of 2.57 and a beta of 0.83. Applied Industrial Technologies has a twelve month low of $238.34 and a twelve month high of $374.80. The stock has a 50 day moving average of $337.51 and a two-hundred day moving average of $313.10. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14.

Insider Activity at Applied Industrial Technologies

In other news, CFO David K. Wells sold 1,812 shares of Applied Industrial Technologies 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter C. 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 transaction of $648,216.80. Following the sale, the director owned 22,859 shares in the company, valued at approximately $7,782,346.55. This trade represents a 7.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Applied Industrial Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC lifted its position in shares of Applied Industrial Technologies by 4.5% during the first quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 50 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Applied Industrial Technologies by 16.5% during the second quarter. Parkside Financial Bank & Trust now owns 501 shares of the industrial products company’s stock valued at $169,000 after acquiring an additional 71 shares during the period. State of Wyoming boosted its holdings in Applied Industrial Technologies by 6.8% in the first quarter. State of Wyoming now owns 1,265 shares of the industrial products company’s stock valued at $336,000 after acquiring an additional 80 shares during the last quarter. State of Michigan Retirement System increased its position in Applied Industrial Technologies by 1.1% in the first quarter. State of Michigan Retirement System now owns 9,000 shares of the industrial products company’s stock worth $2,388,000 after purchasing an additional 100 shares during the period. Finally, Global Retirement Partners LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter worth about $37,000. 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.