2,600 Shares in Applied Industrial Technologies, Inc. $AIT Acquired by Caldwell Investment Management Ltd.

Caldwell Investment Management Ltd. bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,600 shares of the industrial products company’s stock, valued at approximately $879,000. Applied Industrial Technologies makes up 0.6% of Caldwell Investment Management Ltd.’s portfolio, making the stock its 24th biggest position.

A number of other large investors also recently made changes to their positions in AIT. Torren Management LLC purchased a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $25,000. Global Retirement Partners LLC purchased a new position in Applied Industrial Technologies in the second quarter valued at about $37,000. Kilter Group LLC purchased a new position in Applied Industrial Technologies in the second quarter valued at about $40,000. Anchor Investment Management LLC acquired a new position in Applied Industrial Technologies in the 4th quarter worth about $32,000. Finally, Silvant Capital Management LLC acquired a new position in Applied Industrial Technologies in the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insiders Place Their Bets

In related news, CFO David K. Wells sold 1,812 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total value of $643,441.20. Following the sale, the chief financial officer owned 32,050 shares of the company’s stock, valued at $11,380,955. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the transaction, the director directly owned 4,951 shares of the company’s stock, valued at $1,633,285.39. This trade represents a 43.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AIT. DA Davidson boosted their price target on Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, August 14th. KeyCorp lifted their target price on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Mizuho increased their price target on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Finally, Bank of America increased their price target on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $400.00.

Applied Industrial Technologies Trading Up 0.3%

Applied Industrial Technologies stock opened at $341.38 on Friday. Applied Industrial Technologies, Inc. has a 52 week low of $238.34 and a 52 week high of $374.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The firm has a market capitalization of $12.53 billion, a PE ratio of 31.15, a PEG ratio of 2.73 and a beta of 0.84. The business’s 50-day simple moving average is $340.04 and its 200-day simple moving average is $306.27.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. Applied Industrial Technologies’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 11.95 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid a $0.51 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio is currently 18.61%.

Applied Industrial Technologies Company 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.