Applied Industrial Technologies, Inc. $AIT Stock Sold by Robeco Schweiz AG

Robeco Schweiz AG reduced its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 25.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,468 shares of the industrial products company’s stock after selling 39,054 shares during the period. Robeco Schweiz AG’s holdings in Applied Industrial Technologies were worth $37,040,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in AIT. Alpine Bank Wealth Management acquired a new position in shares of Applied Industrial Technologies during the third quarter worth about $25,000. Global Retirement Partners LLC purchased a new stake in shares of Applied Industrial Technologies in the second quarter worth about $37,000. Kilter Group LLC acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $40,000. Silvant Capital Management LLC acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $54,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at about $96,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AIT shares. Bank of America raised their target price on Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a report on Friday, August 14th. Oppenheimer upped their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. Mizuho lowered their price objective on shares of Applied Industrial Technologies from $400.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Finally, KeyCorp lifted their price objective 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. Seven research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $398.33.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $316.34 on Friday. Applied Industrial Technologies, Inc. has a 12 month low of $238.72 and a 12 month high of $374.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75. The firm has a market capitalization of $11.62 billion, a P/E ratio of 28.86, a P/E/G ratio of 2.54 and a beta of 0.85. The company’s fifty day moving average price is $331.41 and its two-hundred day moving average price is $324.20.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.25. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 12.00 earnings per share for the current fiscal year.

Insider Transactions at Applied Industrial Technologies

In related news, CFO David K. Wells sold 1,812 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the completion of the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter C. Wallace sold 1,904 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the sale, the director owned 22,859 shares of the company’s stock, valued at approximately $7,782,346.55. This trade represents a 7.69% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by insiders.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider of industrial motion, power transmission, fluid power, automation, and control products. Its offerings include bearings, mechanical power-transmission components, motors, gearboxes, hydraulic and pneumatic equipment, industrial hoses, process pumps, safety products, and related maintenance supplies.

The company also provides technical and engineering services designed to help customers improve equipment performance, reliability, and productivity.