Mountain Pacific Investment Advisers LLC Decreases Holdings in Applied Industrial Technologies, Inc. $AIT

Mountain Pacific Investment Advisers LLC lessened its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 81.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,203 shares of the industrial products company’s stock after selling 49,934 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Applied Industrial Technologies were worth $2,925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of AIT. Boston Trust Walden Corp boosted its stake in shares of Applied Industrial Technologies by 2.0% during the second quarter. Boston Trust Walden Corp now owns 508,120 shares of the industrial products company’s stock valued at $118,113,000 after purchasing an additional 10,015 shares during the period. Norges Bank bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at $107,228,000. Royal London Asset Management Ltd. grew its stake in shares of Applied Industrial Technologies by 69.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after buying an additional 161,048 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Applied Industrial Technologies by 47.8% in the second quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock worth $87,082,000 after buying an additional 121,163 shares in the last quarter. Institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AIT. Mizuho set a $305.00 price target on Applied Industrial Technologies in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $287.50.

Applied Industrial Technologies Trading Up 2.3%

Shares of AIT opened at $283.76 on Thursday. The company has a 50-day moving average of $261.36 and a 200 day moving average of $260.81. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.83 and a beta of 0.87. Applied Industrial Technologies, Inc. has a 1-year low of $199.96 and a 1-year high of $286.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.55 and a quick ratio of 2.50.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.16. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.36 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Profile

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.