11,392 Shares in Applied Industrial Technologies, Inc. $AIT Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,392 shares of the industrial products company’s stock, valued at approximately $3,852,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Redwood Investment Management LLC acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at $1,169,000. Corient Private Wealth LP acquired a new position in shares of Applied Industrial Technologies in the second quarter worth $1,366,000. Bank of America Corp DE purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth $70,948,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth $49,539,000. Finally, Man Group plc acquired a new stake in Applied Industrial Technologies during the second quarter valued at $4,112,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird boosted their target price 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 stock an “outperform” rating in a research note on Friday, August 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Mizuho raised their price objective on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Applied Industrial Technologies has an average rating of “Buy” and a consensus price target of $400.00.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $322.12 on Friday. The stock has a market capitalization of $11.82 billion, a P/E ratio of 29.39, a P/E/G ratio of 2.57 and a beta of 0.83. The business has a 50-day moving average of $339.38 and a two-hundred day moving average of $309.36. Applied Industrial Technologies, Inc. has a fifty-two week low of $238.34 and a fifty-two week 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.

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

Applied Industrial Technologies Dividend Announcement

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

Insider Buying and Selling

In other Applied Industrial Technologies news, Director Madhuri Andrews sold 3,845 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were 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 in the company, valued at $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Wallace sold 1,904 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $340.45, for a total value of $648,216.80. Following the completion of the sale, the director directly owned 22,859 shares in the company, valued at approximately $7,782,346.55. This represents a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,561 shares of company stock worth $2,560,085 in the last quarter. 1.60% of the stock is currently owned by company insiders.

Applied Industrial Technologies 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.