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

Applied Industrial Technologies (NYSE:AIT) announced its quarterly earnings results on Thursday. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm earned $2.39 EPS. Applied Industrial Technologies’s quarterly revenue was up .3% on a year-over-year basis. 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 Trading Down 0.5 %

NYSE:AIT traded down $1.21 during trading hours on Friday, hitting $230.76. 71,758 shares of the stock were exchanged, compared to its average volume of 287,961. The company has a market capitalization of $8.91 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. 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 company’s 50 day moving average is $214.20 and its two-hundred day moving average is $200.90. Applied Industrial Technologies has a twelve month low of $149.59 and a twelve month high of $240.45.

Applied Industrial Technologies Dividend Announcement

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

Insider Activity

In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total value of $986,659.80. Following the completion of the sale, the vice president now directly owns 19,315 shares in the company, valued at $3,922,876.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction that occurred 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 owns 19,315 shares in the company, valued at $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 available through this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of the 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 completion of the transaction, the chief executive officer now owns 205,708 shares in the company, valued at $41,602,385.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,927 shares of company stock valued at $2,439,116. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. StockNews.com raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Loop Capital lifted their price target on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 16th. Raymond James began coverage on shares of Applied Industrial Technologies in a research note on Wednesday, September 4th. They set an “outperform” rating and a $225.00 price objective on the stock. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $215.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Northcoast Research started coverage on Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

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.