QRG Capital Management Inc. Reduces Stock Position in Applied Industrial Technologies, Inc. $AIT

QRG Capital Management Inc. cut its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 37.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,239 shares of the industrial products company’s stock after selling 3,072 shares during the quarter. QRG Capital Management Inc.’s holdings in Applied Industrial Technologies were worth $1,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. grew its stake in Applied Industrial Technologies by 2,033.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 122 shares during the period. Maseco LLP purchased a new stake in shares of Applied Industrial Technologies in the second quarter valued at $35,000. First Horizon Corp acquired a new position in Applied Industrial Technologies in the third quarter valued at $47,000. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the 2nd quarter valued at about $72,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at about $81,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 1.5%

NYSE AIT opened at $277.11 on Wednesday. The company has a current ratio of 3.55, a quick ratio of 2.50 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $260.81 and its 200-day simple moving average is $260.65. The stock has a market cap of $10.45 billion, a P/E ratio of 26.67, a PEG ratio of 2.87 and a beta of 0.87. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $284.76.

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

Wall Street Analyst Weigh In

AIT has been the topic of a number of research analyst reports. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average price target of $287.50.

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.