Allspring Global Investments Holdings LLC Has $75.44 Million Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Allspring Global Investments Holdings LLC lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 13.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 311,567 shares of the industrial products company’s stock after selling 48,537 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Applied Industrial Technologies were worth $75,443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in shares of Applied Industrial Technologies by 18.0% during the first quarter. Farther Finance Advisors LLC now owns 630 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 96 shares in the last quarter. GAMMA Investing LLC increased its holdings in Applied Industrial Technologies by 51.3% in the first quarter. GAMMA Investing LLC now owns 1,412 shares of the industrial products company’s stock worth $318,000 after buying an additional 479 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Applied Industrial Technologies during the 1st quarter worth $781,000. Fifth Third Bancorp increased its stake in shares of Applied Industrial Technologies by 7.8% during the 1st quarter. Fifth Third Bancorp now owns 2,378 shares of the industrial products company’s stock worth $536,000 after purchasing an additional 172 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Applied Industrial Technologies by 17.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock valued at $338,000 after purchasing an additional 226 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Jason W. Vasquez sold 7,466 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the sale, the vice president owned 14,491 shares in the company, valued at approximately $3,768,819.28. This trade represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $267.06, for a total value of $2,276,152.38. Following the sale, the vice president directly owned 19,273 shares in the company, valued at approximately $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,660 shares of company stock valued at $11,217,980. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a report on Friday, August 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday, October 8th. Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Raymond James Financial cut Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Finally, Bank of America increased their price target on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $285.00.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $247.09 on Tuesday. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.60 and a beta of 0.96. The business has a 50 day moving average price of $262.18 and a 200 day moving average price of $244.94. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. Applied Industrial Technologies, Inc. has a twelve month low of $199.96 and a twelve month high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.