Applied Industrial Technologies (AIT) Stock Price, News & Analysis

Company Overview

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. It also operates fabricated rubber shops and service field crews that install, modify, and repair conveyor belts and rubber linings, as well as offer hose assemblies. In addition, the company provides technical support services; engages in the distribution of fluid power and industrial flow control products; advanced automation solutions, including machine vision, robotics, motion control, and smart technologies. It distributes industrial products through a network of service centers. The company serves various industries, including agriculture and food processing, cement, chemicals and petrochemicals, fabricated metals, forest products, industrial machinery and equipment, life sciences, mining, oil and gas, primary metals, technology, transportation, and utilities, as well as government entities. The company was formerly known as Bearings, Inc. and changed its to name to Applied Industrial Technologies, Inc. in 1997. The company was founded in 1923 and is headquartered in Cleveland, Ohio.

Key Stats

• Today's Range: $239.47 to $244.93
• 50-Day Range: $223.81 to $280.71
• 52-Week Range: $163.50 to $282.98
• Volume: 1.03 million shs
• Average Volume: 288,956 shs
• Market Capitalization: $9.25 billion
• P/E Ratio: 24.55
• Dividend Yield: 0.62%
• Price Target: $285.71
• Consensus Rating: Moderate Buy

Applied Industrial Technologies Stock Analysis - MarketRank™

Applied Industrial Technologies scored higher than 98% of companies evaluated by MarketBeat, and ranked 5th out of 178 stocks in the industrial products sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Applied Industrial Technologies has received a consensus rating of Moderate Buy. The company's average rating score is 2.88, and is based on 7 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Applied Industrial Technologies has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 8.50%

Earnings Growth

Earnings for Applied Industrial Technologies are expected to grow by 8.50% in the coming year, from $9.76 to $10.59 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Applied Industrial Technologies is 24.55, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 128.72.

Price to Earnings Ratio vs. Sector

The P/E ratio of Applied Industrial Technologies is 24.55, which means that it is trading at a more expensive P/E ratio than the Industrial Products sector average P/E ratio of about 21.08.

Price to Earnings Growth Ratio

Applied Industrial Technologies has a PEG Ratio of 3.71. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Applied Industrial Technologies has a P/B Ratio of 5.50. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.46% of the float of Applied Industrial Technologies has been sold short.

Short Interest Ratio / Days to Cover

Applied Industrial Technologies has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Applied Industrial Technologies has recently decreased by 15.59%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 3.3 / 5
• Dividend Strength: Strong

Dividend Yield

Applied Industrial Technologies has a dividend yield of 0.57%, which is in the bottom 25% of all stocks that pay dividends.

Dividend Growth

Applied Industrial Technologies has been increasing its dividend for 15 years.

Dividend Coverage

The dividend payout ratio of Applied Industrial Technologies is 15.10%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Applied Industrial Technologies will have a dividend payout ratio of 13.98% next year. This indicates that Applied Industrial Technologies will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 1.4 / 5
• Environmental Score: -2.06

Percentage of Shares Shorted

1.46% of the float of Applied Industrial Technologies has been sold short.

Short Interest Ratio / Days to Cover

Applied Industrial Technologies has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Applied Industrial Technologies has recently decreased by 15.59%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.8 / 5
• News Sentiment: 0.89

News Sentiment

Applied Industrial Technologies has a news sentiment score of 0.89. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.74 average news sentiment score of Industrial Products companies.

News Coverage This Week

MarketBeat has tracked 8 news articles for Applied Industrial Technologies this week, compared to 6 articles on an average week.

Search Interest

5 people have searched for AIT on MarketBeat in the last 30 days. This is an increase of 25% compared to the previous 30 days.

MarketBeat Follows

8 people have added Applied Industrial Technologies to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Applied Industrial Technologies insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,731,736.00 in company stock.

Percentage Held by Insiders

Only 1.67% of the stock of Applied Industrial Technologies is held by insiders.

Percentage Held by Institutions

93.52% of the stock of Applied Industrial Technologies is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

AIT Stock Analysis - Frequently Asked Questions

How have AIT shares performed this year?

Applied Industrial Technologies' stock was trading at $172.69 on January 1st, 2024. Since then, AIT stock has increased by 39.3% and is now trading at $240.58.
View the best growth stocks for 2024 here.

How were Applied Industrial Technologies' earnings last quarter?

Applied Industrial Technologies, Inc. (NYSE:AIT) announced its quarterly earnings data on Thursday, October, 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.11. The firm's revenue was up .3% on a year-over-year basis.

Who are Applied Industrial Technologies' major shareholders?

Top institutional shareholders of Applied Industrial Technologies include FMR LLC (5.06%), State Street Corp (3.75%), Geode Capital Management LLC (2.71%) and Boston Trust Walden Corp (1.49%). Insiders that own company stock include Neil A Schrimsher, Warren E Hoffner III, Peter C Wallace, Jason W Vasquez, Kurt W Loring, Vincent K Petrella, Mary Dean Hall and Peter A Dorsman.
View institutional ownership trends.

How do I buy shares of Applied Industrial Technologies?

Shares of AIT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Applied Industrial Technologies own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Applied Industrial Technologies investors own include Humana (HUM), American Water Works (AWK), Waste Connections (WCN), Voyager Therapeutics (VYGR), The RMR Group (RMR), TotalEnergies (TTE) and Southern First Bancshares (SFST).

Company Calendar

• Last Earnings: 10/24/2024
• Ex-Dividend for 11/29 Dividend: 11/15/2024
• Dividend Payable: 11/29/2024
• Today: 12/21/2024
• Fiscal Year End: 6/30/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Industrial Products
• Industry: Machinery, equipment, & supplies
• Sub-Industry: Trading Companies & Distributors
• Current Symbol: NYSE:AIT
• CUSIP: 03820C10
• CIK: 109563
• Web: www.applied.com
• Phone: (216) 426-4000
• Fax: 216-426-4845
• Employees: 6,500
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $285.71
• High Stock Price Target: $325.00
• Low Stock Price Target: $250.00
• Potential Upside/Downside: +18.8%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.88
• Research Coverage: 8 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $9.80
• Trailing P/E Ratio: 24.55
• Forward P/E Ratio: 24.65
• P/E Growth: 3.71
• Net Income: $385.76 million
• Net Margins: 8.57%
• Pretax Margin: 11.05%
• Return on Equity: 22.68%
• Return on Assets: 13.14%

Debt

• Debt-to-Equity Ratio: 0.33
• Current Ratio: 3.78
• Quick Ratio: 2.74

Sales & Book Value

• Annual Sales: $4.48 billion
• Price / Sales: 2.06
• Cash Flow: $10.10 per share
• Price / Cash Flow: 23.82
• Book Value: $43.75 per share
• Price / Book: 5.50

Miscellaneous

• Outstanding Shares: 38,447,000
• Free Float: 37,805,000
• Market Cap: $9.25 billion
• Optionable: Optionable
• Beta: 1.05