Wall Street analysts forecast that Applied Industrial Technologies (NYSE:AIT) will report $924.75 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Applied Industrial Technologies’ earnings, with the lowest sales estimate coming in at $921.00 million and the highest estimate coming in at $928.50 million. Applied Industrial Technologies reported sales of $897.72 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The business is scheduled to report its next quarterly earnings report on Friday, August 9th.

On average, analysts expect that Applied Industrial Technologies will report full-year sales of $3.51 billion for the current year, with estimates ranging from $3.51 billion to $3.52 billion. For the next year, analysts expect that the firm will report sales of $3.70 billion, with estimates ranging from $3.67 billion to $3.72 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Applied Industrial Technologies.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Friday, April 26th. The industrial products company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.01). Applied Industrial Technologies had a net margin of 4.14% and a return on equity of 20.06%. The firm had revenue of $885.44 million during the quarter, compared to the consensus estimate of $891.73 million. During the same period in the prior year, the company posted $1.06 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year.

Separately, Zacks Investment Research raised H&E Equipment Services from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $71.00.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FinTrust Capital Advisors LLC raised its stake in shares of Applied Industrial Technologies by 174.8% in the first quarter. FinTrust Capital Advisors LLC now owns 437 shares of the industrial products company’s stock worth $26,000 after buying an additional 278 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Applied Industrial Technologies by 13.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,943 shares of the industrial products company’s stock worth $175,000 after buying an additional 343 shares during the period. Zions Bancorporation N.A. raised its stake in shares of Applied Industrial Technologies by 15.1% in the first quarter. Zions Bancorporation N.A. now owns 3,176 shares of the industrial products company’s stock worth $189,000 after buying an additional 416 shares during the period. CWM Advisors LLC bought a new position in shares of Applied Industrial Technologies in the second quarter worth about $222,000. Finally, Zeke Capital Advisors LLC bought a new position in shares of Applied Industrial Technologies in the first quarter worth about $282,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

AIT stock traded up $0.03 during trading on Friday, reaching $57.28. The stock had a trading volume of 164,524 shares, compared to its average volume of 160,584. Applied Industrial Technologies has a 52 week low of $50.56 and a 52 week high of $82.35. The firm’s 50 day moving average is $58.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.61 and a current ratio of 2.70. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 15.32 and a beta of 1.31.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Wednesday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 33.16%.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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