Zacks Research Weighs in on Applied Industrial Technologies, Inc.’s FY2027 Earnings (NYSE:AIT)

Applied Industrial Technologies, Inc. (NYSE:AIT) – Equities researchers at Zacks Research dropped their FY2027 earnings estimates for shares of Applied Industrial Technologies in a note issued to investors on Tuesday, September 24th. Zacks Research analyst S. Roy now expects that the industrial products company will post earnings per share of $11.28 for the year, down from their previous forecast of $11.37. The consensus estimate for Applied Industrial Technologies’ current full-year earnings is $9.71 per share.

AIT has been the topic of several other reports. Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Northcoast Research initiated coverage on shares of Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating for the company. KeyCorp upped their price objective on Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, September 5th. Finally, Loop Capital lifted their price objective on Applied Industrial Technologies from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $229.00.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $223.07 on Thursday. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 2.31 and a beta of 1.03. Applied Industrial Technologies has a 1-year low of $149.59 and a 1-year high of $226.31. The company’s fifty day simple moving average is $205.40 and its 200 day simple moving average is $196.44. The company has a current ratio of 3.53, a quick ratio of 2.56 and a debt-to-equity ratio of 0.34.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.12. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 earnings per share.

Insider Activity at Applied Industrial Technologies

In other news, VP Kurt W. Loring sold 3,366 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total transaction of $703,561.32. Following the completion of the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the transaction, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. The disclosure for this sale can be found here. Insiders sold a total of 11,927 shares of company stock worth $2,439,116 in the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Trading of Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth $1,279,000. Dana Investment Advisors Inc. lifted its holdings in Applied Industrial Technologies by 0.7% in the second quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock worth $1,928,000 after acquiring an additional 65 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Applied Industrial Technologies by 8.1% in the second quarter. Cetera Investment Advisers now owns 5,501 shares of the industrial products company’s stock worth $1,067,000 after acquiring an additional 412 shares during the last quarter. Quarry LP acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at approximately $39,000. Finally, Creative Planning increased its stake in shares of Applied Industrial Technologies by 13.2% during the second quarter. Creative Planning now owns 8,839 shares of the industrial products company’s stock valued at $1,715,000 after acquiring an additional 1,034 shares during the period. Institutional investors and hedge funds 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.