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Applied Industrial Technologies, Inc.
Type
Public company
Traded as NYSE: AIT
S&P 600 Component
Founded 1923 (1923)
Founder Joseph M. Bruening
Headquarters Cleveland, Ohio, United States
Number of locations
More than 500 facilities
Area served
United States, Puerto Rico, Canada, Mexico, Australia and New Zealand
Key people
Neil Schrimsher, President and CEO
Products
  • Bearings
  • Power Transmission
  • Fluid Power
  • Industrial Rubber
  • General Maintenance
Number of employees
4,635 (2007-2008)
Website www.applied.com
Footnotes / references
  • Founded, Number of Locations
  • Headquarters, Number of Employees

Applied Industrial Technologies, Inc. (AIT) a public, American company focused on the manufacture and sale of industrial (including automotive) parts and fluid power components; it also provides modification, repair and installation services for industrial rubber components, such as conveyor belts and hoses.

Joseph M. Bruening founded Applied Industrial Technologies, then called the Ohio Ball Bearing Company, in 1923. First year sales totaled $82,000. Over the next few decades, new branches opened and sales rose steadily.

In 1953, the company was renamed Bearings, Inc. As acquisitions were made (Dixie Bearings, Inc., King Bearing, Inc., Mainline Industrial Distributors, Inc.), the company’s product and service offering grew. Bearings, Inc. became an authorized distributor for bearings, power transmission supplies, fluid power components and industrial rubber products.

In 1995, Bearings, Inc. recorded more than a billion dollars in sales for the first time. Acquisitions were made in 1996 (Engineered Sales, Inc.) and 1997 (Invetech Company (parent company of Detroit Ball Bearing, American Bearing and Power Transmission, Moore Bearing, Kentucky Bearing Service and Hewitt Transmission)).

The company’s name was changed to Applied Industrial Technologies in 1997.

Since 1998, Applied has continued to make acquisitions, expanding further in the U.S. (Minnesota Bearing Company, Cincinnati Transmission) but also increasing its presence in Puerto Rico (Rafael Benitez Carrillo), Mexico (Baleros Industriales, S.A. de C.V., Rodamientos y Bandas de la Laguna, S.A. de C.V., VYCMEX S.A. de C.V., Suministros Industriales Enol, S.A. de C.V.) and Canada (Bearing & Transmission, B & T Rubber, HyPOWER Systems, Industrial Equipment Co. Ltd., Groupe GLM,). Through acquisitions (Spencer Industries, Inc., Bay Advanced Technologies, Carolina Fluid Components, DTS Fluid Power, FluidTech, Hughes HiTech, Hydro Air and Power Systems), Applied has also grown its offering of fluid power products and services.

News

Applied Industrial Technologies, Inc. -0.8% (industrials)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2021 2021-01-21 Future report Set alerts
Q1 2021 2020-10-28 Future report Set alerts
Q4 2020 2020-08-12 0.80 0.77
Q3 2020 2020-04-30 1.02 -2.14
Q2 2020 2020-01-23 0.97 0.97
Q1 2020 2019-10-30 1.02 1.00
Q4 2019 2019-08-14 1.20 1.02
Q3 2019 2019-04-26 1.16 0.42
Q2 2019 2019-01-24 0.99 0.99
Q1 2019 2018-10-31 1.24 1.24

Ratings

2016-03-21 Boost Price Target Avondale Partners Market Perform $39.00 to $44.00
2016-01-05 Initiated Coverage Avondale Partners Market Perform $40.00
2015-10-26 Downgrade BB&T Corp. Buy to Hold
2015-08-12 Upgrade Longbow Research Underperform to Neutral
2015-07-21 Initiated Coverage KeyBanc Sector Weight
2015-07-21 Initiated Coverage KeyCorp Sector Weight
2015-06-19 Downgrade Longbow Research Neutral to Underperform $34.00
2014-07-07 Upgrade Citigroup Inc. Hold to Buy
2014-07-07 Upgrade BB&T Corp. Hold to Buy $64.00
2014-06-23 Upgrade Sidoti Neutral to Buy
2013-10-31 Downgrade Wellington Shields Accumulate to Hold
2013-03-05 Reiterated Wunderlich Buy $40 to $51
2012-06-11 Reiterated Wunderlich Buy $43 to $40
2012-05-25 Initiated Wunderlich Buy $43
2010-04-29 Downgrade KeyBanc Capital Mkts Buy to Hold
2010-01-07 Upgrade KeyBanc Capital Mkts Hold to Buy $28
2009-08-04 Downgrade Morgan Keegan Outperform to Mkt Perform
2008-05-12 Upgrade Morgan Keegan Mkt Perform to Outperform
2008-03-11 Downgrade Morgan Keegan Outperform to Mkt Perform
2007-08-10 Upgrade Soleil Gradually Accumulate to Buy $38
2007-04-19 Downgrade BB&T Capital Mkts Buy to Hold
2016-03-21 Boost Price Target Avondale Partners Market Perform $39.00 to $44.00
2016-01-05 Initiated Coverage Avondale Partners Market Perform $40.00
2015-10-26 Downgrade BB&T Corp. Buy to Hold
2015-08-12 Upgrade Longbow Research Underperform to Neutral
2015-07-21 Initiated Coverage KeyBanc Sector Weight

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Schrimsher Neil A President and CEO 0.31%  (128414) AIT / PDCO /
EISELE MARK O Vice President-CFO & Treasurer 0.25%  (106090) AIT /
Mondics Benjamin J President & COO 0.24%  (101689) AIT /
BAUER FRED D VP-General Counsel & Secretary 0.22%  (90155) AIT /
BARES WILLIAM G 0.18%  (77050) AIT /
DORSMAN PETER A 0.09%  (36848) AIT / HDS / NCR /
Armold Thomas E VP-Marketing & Strategic Accts 0.08%  (33250) AIT /
MOORE JOSEPH MICHAEL 0.07%  (28087) AIT /
KELLY GREEN EDITH 0.06%  (23230) AIT /
BREZOVEC DANIEL T Corporate Controller 0.05%  (20368) AIT /
KOMNENOVICH DAN 0.04%  (17430) AIT /
Wallace Peter C 0.03%  (14253) AIT / CW / PKD / ROG /
HILTZ L THOMAS 0.03%  (14044) AIT /
Loring Kurt W. VP-Chief HR Officer 0.03%  (13379) AIT /
Hoffner Warren E III VP-General Mgr, Fluid Power 0.03%  (12412) AIT /
COMMES THOMAS A 0.03%  (12019) AIT /
PETRELLA VINCENT K 0.03%  (12005) AIT / LECO /
BARLETT TODD A VP-Acq & Global Bus Dev 0.02%  (8929) AIT /
MEIER JOHN F 0.02%  (8312) AIT / CTB /
Macey Christopher Corporate Controller 0.01%  (5594) AIT / DBD /
Will Carl E. Chief Commercial Officer 0.01%  (5385) AIT / IVC /
Raver Joe Anthony 0.01%  (3982) AIT / HI /
Pagano Robert J Jr 0.01%  (2397) AIT / ITT / WTS /

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