Allianz Asset Management GmbH Sells 1,920 Shares of Applied Industrial Technologies, Inc. $AIT

Allianz Asset Management GmbH lessened its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,710 shares of the industrial products company’s stock after selling 1,920 shares during the period. Allianz Asset Management GmbH’s holdings in Applied Industrial Technologies were worth $12,485,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AIT. GAMMA Investing LLC lifted its stake in shares of 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 valued at $318,000 after buying an additional 479 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Applied Industrial Technologies by 17.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company’s stock valued at $338,000 after buying an additional 226 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Applied Industrial Technologies by 6.6% in the first quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company’s stock valued at $1,183,000 after buying an additional 323 shares during the period. State of Alaska Department of Revenue lifted its stake in Applied Industrial Technologies by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 4,490 shares of the industrial products company’s stock worth $1,011,000 after purchasing an additional 105 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Applied Industrial Technologies by 7.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company’s stock worth $699,000 after purchasing an additional 210 shares during the period. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $250.17 on Tuesday. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $282.98. The firm has a 50 day moving average of $260.58 and a 200-day moving average of $245.81. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $9.44 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 2.62 and a beta of 0.96.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on AIT. Bank of America raised their price target on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Robert W. Baird raised their price target on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Oppenheimer raised their price target on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Raymond James Financial cut shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 26,671 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the completion of the transaction, the chief executive officer owned 149,735 shares in the company, valued at approximately $39,299,448.10. The trade was a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jason W. Vasquez sold 7,466 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,660 shares of company stock worth $11,217,980. Insiders own 1.60% of the company’s stock.

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.