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

Applied Industrial Technologies (NYSE:AIT) released its 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. 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 previous year, the company posted $2.39 EPS. Applied Industrial Technologies’s quarterly revenue was up .3% compared to the same quarter last year. 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 Down 0.3 %

Shares of NYSE AIT traded down $0.67 during trading on Friday, reaching $231.30. The company had a trading volume of 302,580 shares, compared to its average volume of 289,076. Applied Industrial Technologies has a 12-month low of $149.59 and a 12-month high of $240.45. The company has a quick ratio of 2.56, a current ratio of 3.53 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average is $214.79 and its 200 day moving average is $201.14. The stock has a market cap of $8.93 billion, a PE ratio of 24.25, a P/E/G ratio of 3.12 and a beta of 1.03.

Applied Industrial Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AIT shares. Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating for the company. Oppenheimer raised their price objective on Applied Industrial Technologies from $235.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday. Mizuho initiated coverage on Applied Industrial Technologies in a research report on Tuesday. They issued an “outperform” rating and a $285.00 price objective for the company. Loop Capital increased their target price on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Raymond James lifted their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Applied Industrial Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $255.71.

Insider Buying and Selling

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the transaction, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Applied Industrial Technologies 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 sale, the vice president now directly owns 19,315 shares in the company, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction 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 directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock worth $2,439,116 in the last quarter. Corporate insiders own 2.20% 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.