Applied Industrial Technologies (NYSE:AIT) Posts Earnings Results

Applied Industrial Technologies (NYSE:AIT) released its quarterly earnings results on Thursday. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.11, Briefing.com reports. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted $2.39 EPS. The firm’s revenue was up .3% on a year-over-year basis. Applied Industrial Technologies updated its FY 2025 guidance to 9.250-10.000 EPS and its FY25 guidance to $9.25-10.00 EPS.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT traded down $1.21 during mid-day trading on Friday, hitting $230.76. The company had a trading volume of 71,758 shares, compared to its average volume of 287,961. Applied Industrial Technologies has a 12 month low of $149.59 and a 12 month high of $240.45. The firm has a market cap of $8.91 billion, a P/E ratio of 24.58, a PEG ratio of 3.12 and a beta of 1.03. The business’s 50-day simple moving average is $214.20 and its 200-day simple moving average is $200.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.64%. Applied Industrial Technologies’s payout ratio is 15.51%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AIT shares. KeyCorp boosted their target price on Applied Industrial Technologies from $215.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Loop Capital boosted their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Bank of America started coverage on Applied Industrial Technologies in a research report on Monday, October 7th. They issued a “neutral” rating and a $232.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total value of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the transaction, the chief executive officer now owns 205,708 shares of the company’s stock, valued at approximately $41,602,385.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock worth $2,439,116 over the last three months. Company insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Company Profile

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.