Zacks Research Issues Positive Forecast for AIT Earnings

Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities researchers at Zacks Research increased their Q3 2028 EPS estimates for Applied Industrial Technologies in a note issued to investors on Thursday, September 17th. Zacks Research analyst Team now expects that the industrial products company will post earnings of $3.22 per share for the quarter, up from their prior forecast of $3.20. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $11.96 per share.

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

Several other equities research analysts also recently issued reports on AIT. Oppenheimer lifted their price target on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. DA Davidson raised their price objective on Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Robert W. Baird upped their target price on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, KeyCorp increased their price objective on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $400.00.

Applied Industrial Technologies Trading Down 0.5%

NYSE AIT opened at $320.20 on Monday. The stock has a market cap of $11.76 billion, a P/E ratio of 29.22, a PEG ratio of 2.58 and a beta of 0.83. The company’s fifty day simple moving average is $337.46 and its 200-day simple moving average is $312.75. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. Applied Industrial Technologies has a 52 week low of $238.34 and a 52 week high of $374.80.

Institutional Trading of Applied Industrial Technologies

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Applied Industrial Technologies during the second quarter valued at approximately $1,336,805,000. First Trust Advisors LP lifted its position in Applied Industrial Technologies by 34.3% in the first quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock worth $259,706,000 after purchasing an additional 249,961 shares during the period. Capital International Investors boosted its stake in Applied Industrial Technologies by 25.4% during the 4th quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock valued at $247,250,000 after purchasing an additional 195,043 shares in the last quarter. Geode Capital Management LLC boosted its stake in Applied Industrial Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company’s stock valued at $176,479,000 after purchasing an additional 1,889 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Applied Industrial Technologies during the 4th quarter valued at $125,044,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Peter C. Wallace sold 1,904 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the sale, the director owned 22,859 shares of the company’s stock, valued at $7,782,346.55. This trade represents a 7.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owned 32,050 shares in the company, valued at approximately $11,380,955. This represents a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% 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.