Applied Industrial Technologies, Inc. Declares Quarterly Dividend of $0.51 (NYSE:AIT)

by · The Markets Daily

Applied Industrial Technologies, Inc. (NYSE:AIT – Get Free Report) declared a quarterly dividend on Tuesday, June 23rd. Investors of record on Friday, August 14th will be given a dividend of 0.51 per share by the industrial products company on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th.

Applied Industrial Technologies has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Applied Industrial Technologies has a dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Applied Industrial Technologies to earn $11.75 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 17.4%.

Applied Industrial Technologies Trading Down 2.2%

Applied Industrial Technologies stock traded down $7.34 during mid-day trading on Tuesday, hitting $330.73. 250,205 shares of the stock were exchanged, compared to its average volume of 308,258. The stock has a market capitalization of $12.22 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 3.22 and a beta of 0.84. Applied Industrial Technologies has a 12 month low of $223.13 and a 12 month high of $340.37. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $308.09 and its two-hundred day simple moving average is $283.24.

Applied Industrial Technologies (NYSE:AIT – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. Applied Industrial Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 earnings per share. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. Analysts forecast that Applied Industrial Technologies will post 10.71 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. DA Davidson assumed coverage on Applied Industrial Technologies in a research report on Tuesday, June 16th. They set a “buy” rating and a $380.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Friday, April 24th. KeyCorp increased their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a research note on Wednesday, April 29th. Finally, Wall Street Zen lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.14.

Read Our Latest Analysis on AIT

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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