Applied Industrial Technologies (NYSE:AIT - Get Free Report) issued its earnings results on Thursday. The industrial products company reported $2.36 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.11, Briefing.com reports. The business 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 company's revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior 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 Stock Down 0.3 %
Shares of AIT stock traded down $0.67 during trading hours on Friday, reaching $231.30. 302,580 shares of the company's stock were exchanged, compared to its average volume of 289,076. Applied Industrial Technologies has a 1 year low of $149.59 and a 1 year 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. The stock has a market cap of $8.93 billion, a PE ratio of 24.38, a PEG ratio of 3.12 and a beta of 1.03. The stock's fifty day moving average price is $214.20 and its two-hundred day moving average price is $200.90.
Applied Industrial Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.37 dividend. 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 Ratings Changes
A number of equities research analysts have weighed in on AIT shares. Raymond James lifted their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday. Mizuho began coverage on shares of Applied Industrial Technologies in a report on Tuesday. They issued an "outperform" rating and a $285.00 price target for the company. KeyCorp boosted their price objective on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday. Northcoast Research initiated coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They issued a "neutral" rating for the company. Finally, Bank of America raised their price objective on Applied Industrial Technologies from $232.00 to $240.00 and gave the company a "neutral" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $255.71.
Get Our Latest Stock Analysis on Applied Industrial Technologies
Insider Activity at Applied Industrial Technologies
In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 3,703 shares of the business'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 transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares of the company's stock, valued at approximately $41,602,385.92. 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, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the completion of the sale, the chief executive officer now owns 205,708 shares of the company's stock, valued at approximately $41,602,385.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the completion of the transaction, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,927 shares of company stock valued at $2,439,116 in the last three months. 2.20% of the stock is owned by insiders.
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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