Applied Industrial Technologies (NYSE:AIT - Get Free Report) released its quarterly earnings data on Wednesday. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.18, Zacks reports. Applied Industrial Technologies had a return on equity of 22.67% and a net margin of 8.62%. Applied Industrial Technologies updated its FY 2025 guidance to 9.650-10.050 EPS.
Applied Industrial Technologies Price Performance
Shares of Applied Industrial Technologies stock traded down $3.38 during midday trading on Friday, reaching $260.24. The company had a trading volume of 626,840 shares, compared to its average volume of 309,644. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $257.05 and a 200 day simple moving average of $233.74. Applied Industrial Technologies has a 1-year low of $176.32 and a 1-year high of $282.98. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 3.49 and a beta of 1.08.
Applied Industrial Technologies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.71%. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 14th. Applied Industrial Technologies's dividend payout ratio is presently 14.99%.
Analyst Ratings Changes
AIT has been the topic of a number of analyst reports. Raymond James reiterated an "outperform" rating and issued a $265.00 price target (up from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday. Mizuho began coverage on shares of Applied Industrial Technologies in a report on Tuesday, October 22nd. They issued an "outperform" rating and a $285.00 target price on the stock. Bank of America raised shares of Applied Industrial Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Oppenheimer upped their price objective on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an "outperform" rating in a research note on Thursday, November 14th. Finally, Loop Capital raised their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $291.43.
Check Out Our Latest Stock Report on AIT
Insiders Place Their Bets
In other news, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the sale, the director now owns 3,462 shares in the company, valued at $952,326.96. The trade was a 38.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the transaction, the vice president now owns 55,709 shares in the company, valued at $15,689,882.76. This represents 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.
About Applied Industrial Technologies
(
Get Free Report)
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.
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