Quantbot Technologies LP Purchases Shares of 7,672 Applied Industrial Technologies, Inc. $AIT

Quantbot Technologies LP acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 7,672 shares of the industrial products company’s stock, valued at approximately $2,594,000.

Other institutional investors also recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of Applied Industrial Technologies in the 4th quarter valued at about $25,000. Anchor Investment Management LLC bought a new position in Applied Industrial Technologies during the fourth quarter worth about $32,000. Global Retirement Partners LLC acquired a new position in Applied Industrial Technologies during the second quarter worth approximately $37,000. Kilter Group LLC acquired a new position in Applied Industrial Technologies during the second quarter worth approximately $40,000. Finally, Smartleaf Asset Management LLC increased its position in Applied Industrial Technologies by 78.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock worth $46,000 after buying an additional 78 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction on 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 sale, the director owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David K. Wells sold 1,812 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the sale, the chief financial officer directly owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Trading Down 0.1%

Shares of AIT stock opened at $341.38 on Monday. Applied Industrial Technologies, Inc. has a 12-month low of $238.34 and a 12-month high of $374.80. The company has a market capitalization of $12.53 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84. The firm has a 50 day moving average price of $340.04 and a two-hundred day moving average price of $306.52. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

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

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors 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 annualized dividend and a yield of 0.6%. Applied Industrial Technologies’s payout ratio is 18.61%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AIT. Bank of America raised their price objective on Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, August 14th. DA Davidson increased 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. Robert W. Baird increased their price target on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Oppenheimer raised their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, KeyCorp lifted their price objective on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $400.00.

About Applied Industrial Technologies

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.