Brokers Offer Predictions for Applied Industrial Technologies, Inc.’s FY2024 Earnings (NYSE:AIT)

Applied Industrial Technologies, Inc. (NYSE:AIT) – Zacks Research lifted their FY2024 earnings per share estimates for shares of Applied Industrial Technologies in a research report issued to clients and investors on Wednesday, April 24th. Zacks Research analyst S. Roy now forecasts that the industrial products company will post earnings of $9.45 per share for the year, up from their prior estimate of $9.43. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $9.49 per share. Zacks Research also issued estimates for Applied Industrial Technologies’ Q4 2024 earnings at $2.43 EPS, Q3 2025 earnings at $2.31 EPS and FY2026 earnings at $8.55 EPS.

A number of other analysts also recently commented on the company. KeyCorp boosted their price objective on Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer started coverage on Applied Industrial Technologies in a research report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $201.00.

Applied Industrial Technologies Stock Down 0.1 %

AIT opened at $186.04 on Thursday. Applied Industrial Technologies has a one year low of $122.24 and a one year high of $201.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74. The stock’s fifty day moving average is $190.24 and its 200-day moving average is $175.28. The company has a market capitalization of $7.19 billion, a PE ratio of 19.52, a P/E/G ratio of 1.96 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s quarterly revenue was up 1.6% compared to the same quarter last year.

Insider Transactions at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 2,000 shares of Applied Industrial Technologies stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total transaction of $364,680.00. Following the transaction, the vice president now owns 57,155 shares in the company, valued at $10,421,642.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Applied Industrial Technologies by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock valued at $875,912,000 after buying an additional 14,858 shares in the last quarter. FMR LLC grew its stake in Applied Industrial Technologies by 38.5% in the third quarter. FMR LLC now owns 1,625,565 shares of the industrial products company’s stock valued at $251,329,000 after purchasing an additional 451,876 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Applied Industrial Technologies by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock valued at $163,575,000 after purchasing an additional 21,276 shares in the last quarter. Invesco Ltd. grew its stake in Applied Industrial Technologies by 15.0% in the third quarter. Invesco Ltd. now owns 750,914 shares of the industrial products company’s stock valued at $116,099,000 after purchasing an additional 98,144 shares in the last quarter. Finally, Boston Trust Walden Corp grew its stake in Applied Industrial Technologies by 5.4% in the fourth quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock valued at $108,009,000 after purchasing an additional 32,282 shares in the last quarter. Hedge funds and other institutional investors own 93.52% 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.