Applied Industrial Technologies, Inc. $AIT Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 11.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,393 shares of the industrial products company’s stock after purchasing an additional 1,209 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Applied Industrial Technologies were worth $2,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rise Advisors LLC lifted its stake in Applied Industrial Technologies by 111.1% during the first quarter. Rise Advisors LLC now owns 133 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 70 shares during the last quarter. Maseco LLP acquired a new stake in Applied Industrial Technologies during the second quarter valued at approximately $35,000. Wayfinding Financial LLC acquired a new stake in Applied Industrial Technologies during the first quarter valued at approximately $38,000. SVB Wealth LLC acquired a new stake in Applied Industrial Technologies during the first quarter valued at approximately $48,000. Finally, First Horizon Advisors Inc. lifted its stake in Applied Industrial Technologies by 31.1% during the first quarter. First Horizon Advisors Inc. now owns 215 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 26,671 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the transaction, the chief executive officer owned 149,735 shares in the company, valued at $39,299,448.10. This represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,660 shares of company stock worth $11,217,980 in the last 90 days. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on AIT shares. Raymond James Financial lowered shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Industrial Alliance Securities set a $290.00 price objective on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Oppenheimer raised their price objective 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. Finally, Robert W. Baird raised their price objective 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. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $285.00.

Applied Industrial Technologies Stock Down 0.5%

AIT stock opened at $258.70 on Wednesday. Applied Industrial Technologies, Inc. has a 12-month low of $199.96 and a 12-month high of $282.98. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 2.75 and a beta of 0.96. The company has a 50 day moving average of $259.61 and a two-hundred day moving average of $247.53.

Applied Industrial Technologies (NYSE:AIT) last released 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 net margin of 8.61% and a return on equity of 21.78%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. The company’s revenue 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. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, November 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is 18.18%.

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.