22,884 Shares in Applied Industrial Technologies, Inc. $AIT Acquired by Jupiter Topco LLC

Jupiter Topco LLC purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 22,884 shares of the industrial products company’s stock, valued at approximately $7,742,000. Jupiter Topco LLC owned about 0.06% of Applied Industrial Technologies as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Compound Planning Inc. raised its holdings in Applied Industrial Technologies by 4.7% in the fourth quarter. Compound Planning Inc. now owns 822 shares of the industrial products company’s stock worth $211,000 after purchasing an additional 37 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Applied Industrial Technologies by 7.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock valued at $170,000 after buying an additional 45 shares during the period. Sanctuary Advisors LLC increased its position in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $308,000 after buying an additional 50 shares in the last quarter. Focus Partners Wealth raised its stake in Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after buying an additional 58 shares during the period. Finally, Cetera Investment Advisers raised its stake in Applied Industrial Technologies by 0.5% during the 4th quarter. Cetera Investment Advisers now owns 10,900 shares of the industrial products company’s stock worth $2,799,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 0.4%

Shares of NYSE:AIT opened at $321.09 on Monday. Applied Industrial Technologies, Inc. has a one year low of $238.34 and a one year high of $374.80. The stock has a market capitalization of $11.78 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.59 and a beta of 0.84. 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 company’s 50-day moving average price is $340.60 and its two-hundred day moving average price is $308.29.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The business’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, equities analysts forecast that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 18.61%.

Insider Transactions at Applied Industrial Technologies

In related news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction that occurred 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 directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter C. Wallace sold 1,904 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total transaction of $648,216.80. Following the completion of the sale, the director directly owned 22,859 shares of the company’s stock, valued at approximately $7,782,346.55. The trade was a 7.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 7,561 shares of company stock worth $2,560,085. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. DA Davidson raised their price target on Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Mizuho raised their price target on Applied Industrial Technologies from $355.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Oppenheimer lifted their price objective 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, Robert W. Baird boosted their price objective on Applied Industrial Technologies from $317.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Applied Industrial Technologies currently has an average rating of “Buy” and a consensus 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.