Applied Industrial Technologies (AIT - Free Report) acquired Advanced Motion Systems Inc. (“AMS”), expanding its automation platform. AMS is an automation products, services and engineered solutions provider based in Rochester, NY. Terms of the deal were kept under wraps.
With strong solutions capabilities in machine vision, motion control and related services, AMS caters to the emerging automation needs of customers. The acquisition is in sync with AIT’s solutions-centric strategy.
The addition of AMS expands Applied Industrial’s footprint in the upper Northeast region of the United States while helping in bolstering relationships with leading suppliers. The buyout fortifies AIT’s growth capacity in several emerging applications across key industry verticals.
Over time, Applied Industrial has been focusing on acquiring businesses to expand operations. In November 2022, the company acquired Automation, Inc., expanding its footprint across key verticals and geographies while supplementing its value-added services and cross-selling efforts. In August 2021, AIT acquired R.R. Floody, strengthening its offerings in the automation technology space and boosting its reach across the U.S. Midwest market.
Zacks Rank & Key Picks
Applied Industrial presently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
Deere & Company (DE - Free Report) currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 31% for the current fiscal year. The stock has gained around 12% in the past six months.
Ingersoll Rand (IR - Free Report) presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of 7% for the current year. The stock has rallied 17.6% in the past six months.
Illinois Tool Works (ITW - Free Report) currently carries a Zacks Rank #2 (Buy). The company pulled off a trailing four-quarter earnings surprise of 0.9%, on average.
Illinois Tool has an estimated earnings growth rate of approximately 4% in the past six months. The stock has gained 22.2% in the past six months.
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Applied Industrial Technologies (AIT - Free Report) acquired Advanced Motion Systems Inc. (“AMS”), expanding its automation platform. AMS is an automation products, services and engineered solutions provider based in Rochester, NY. Terms of the deal were kept under wraps.
With strong solutions capabilities in machine vision, motion control and related services, AMS caters to the emerging automation needs of customers. The acquisition is in sync with AIT’s solutions-centric strategy.
The addition of AMS expands Applied Industrial’s footprint in the upper Northeast region of the United States while helping in bolstering relationships with leading suppliers. The buyout fortifies AIT’s growth capacity in several emerging applications across key industry verticals.
Over time, Applied Industrial has been focusing on acquiring businesses to expand operations. In November 2022, the company acquired Automation, Inc., expanding its footprint across key verticals and geographies while supplementing its value-added services and cross-selling efforts. In August 2021, AIT acquired R.R. Floody, strengthening its offerings in the automation technology space and boosting its reach across the U.S. Midwest market.
Zacks Rank & Key Picks
Applied Industrial presently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks within the broader Industrial Products sector are as follows:
Deere & Company (DE - Free Report) currently sports a Zacks Rank #1 (Strong Buy). The company pulled off a trailing four-quarter earnings surprise of 4.7%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Deere has an estimated earnings growth rate of 31% for the current fiscal year. The stock has gained around 12% in the past six months.
Ingersoll Rand (IR - Free Report) presently flaunts a Zacks Rank #1. The company delivered a trailing four-quarter earnings surprise of 8.5%, on average.
Ingersoll Rand has an estimated earnings growth rate of 7% for the current year. The stock has rallied 17.6% in the past six months.
Illinois Tool Works (ITW - Free Report) currently carries a Zacks Rank #2 (Buy). The company pulled off a trailing four-quarter earnings surprise of 0.9%, on average.
Illinois Tool has an estimated earnings growth rate of approximately 4% in the past six months. The stock has gained 22.2% in the past six months.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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