Key Points
- CFO David Wells sold 1,812 Applied Industrial Technologies shares at an average price of $355.10, generating $643,441.20. He retains 32,050 shares, and the transaction reduced his ownership by 5.35%.
- Applied Industrial Technologies reported quarterly EPS of $3.17, beating estimates of $2.92, while revenue reached $1.35 billion and rose 10.5% year over year.
- Analysts remain positive, with the stock receiving a consensus “Buy” rating and an average price target of $384.29. The company also declared a quarterly dividend of $0.51 per share, or $2.04 annually.
Applied Industrial Technologies, Inc. (NYSE:AIT - Get Free Report) CFO David Wells sold 1,812 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the completion of the transaction, the chief financial officer directly owned 32,050 shares of the company's stock, valued at approximately $11,380,955. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Applied Industrial Technologies Stock Down 1.9%
AIT opened at $339.61 on Friday. The company has a market capitalization of $12.46 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.78 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75. The firm's fifty day moving average price is $339.60 and its two-hundred day moving average price is $306.02. Applied Industrial Technologies, Inc. has a fifty-two week low of $238.34 and a fifty-two week high of $374.80.
Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.25. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The business's revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, analysts anticipate that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.
Applied Industrial Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies's payout ratio is presently 18.61%.
Institutional Trading of Applied Industrial Technologies
Large investors have recently added to or reduced their stakes in the company. Torren Management LLC bought a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $25,000. Anchor Investment Management LLC bought a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $32,000. Global Retirement Partners LLC bought a new stake in Applied Industrial Technologies during the 2nd quarter worth approximately $37,000. Kilter Group LLC acquired a new stake in Applied Industrial Technologies during the 2nd quarter valued at $40,000. Finally, Smartleaf Asset Management LLC increased its holdings in Applied Industrial Technologies by 78.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 78 shares in the last quarter. 93.52% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AIT. Robert W. Baird increased their target price on Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Oppenheimer upped their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Bank of America increased their price objective on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Finally, DA Davidson lifted their price objective on Applied Industrial Technologies from $380.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $384.29.
Read Our Latest Analysis on Applied Industrial Technologies
Applied Industrial Technologies Company Profile
(
Get Free Report)
Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.
Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.
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