Zacks Research Analysts Increase Earnings Estimates for AIT

Applied Industrial Technologies, Inc. (NYSE:AIT) – Stock analysts at Zacks Research lifted their Q1 2027 earnings per share estimates for Applied Industrial Technologies in a research note issued to investors on Wednesday, January 22nd. Zacks Research analyst S. Roy now expects that the industrial products company will earn $2.68 per share for the quarter, up from their prior forecast of $2.67. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $9.77 per share.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company earned $2.39 EPS. The business’s revenue was up .3% on a year-over-year basis.

Other research analysts also recently issued research reports about the stock. Loop Capital upped their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $285.00 to $315.00 in a report on Tuesday, November 26th. Robert W. Baird boosted their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, KeyCorp boosted their price target on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $285.71.

Applied Industrial Technologies Stock Performance

AIT opened at $261.53 on Friday. The firm has a fifty day moving average price of $258.66 and a 200 day moving average price of $230.61. Applied Industrial Technologies has a 1 year low of $173.73 and a 1 year high of $282.98. The stock has a market cap of $10.05 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74.

Insider Activity

In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the completion of the sale, the director now directly owns 3,462 shares of the company’s stock, valued at $952,326.96. This trade represents a 38.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the sale, the vice president now owns 55,709 shares of the company’s stock, valued at approximately $15,689,882.76. The trade was a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.67% of the company’s stock.

Institutional Trading of Applied Industrial Technologies

Hedge funds have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its position in shares of Applied Industrial Technologies by 8.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,203 shares of the industrial products company’s stock worth $621,000 after purchasing an additional 253 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Applied Industrial Technologies by 4.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,756 shares of the industrial products company’s stock valued at $535,000 after acquiring an additional 122 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Applied Industrial Technologies by 38.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 18,300 shares of the industrial products company’s stock valued at $3,550,000 after acquiring an additional 5,100 shares during the period. Pacer Advisors Inc. raised its stake in shares of Applied Industrial Technologies by 9.2% in the 2nd quarter. Pacer Advisors Inc. now owns 8,734 shares of the industrial products company’s stock valued at $1,694,000 after acquiring an additional 735 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Applied Industrial Technologies by 37.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,427 shares of the industrial products company’s stock worth $2,605,000 after acquiring an additional 3,665 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.