Applied Industrial Technologies (NYSE:AIT) Posts Earnings Results, Beats Expectations By $0.11 EPS

Applied Industrial Technologies (NYSE:AIT) issued its quarterly earnings results on Thursday. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11, Briefing.com reports. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.39 EPS. 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 Price Performance

Shares of AIT stock traded down $0.07 during trading hours on Friday, reaching $231.90. The stock had a trading volume of 155,443 shares, compared to its average volume of 288,365. The stock’s fifty day simple moving average is $214.20 and its 200 day simple moving average is $200.90. The firm has a market capitalization of $8.95 billion, a PE ratio of 24.38, a PEG ratio of 3.12 and a beta of 1.03. Applied Industrial Technologies has a 12 month low of $149.59 and a 12 month high of $240.45. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AIT shares. Loop Capital increased their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Robert W. Baird increased their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer boosted their target price on Applied Industrial Technologies from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday. KeyCorp upped their price target on Applied Industrial Technologies from $245.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.71.

Insider Buying and Selling

In other news, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the transaction, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the sale, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the completion of the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,927 shares of company stock valued at $2,439,116. 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.