OneDigital Investment Advisors LLC Makes New Investment in Applied Industrial Technologies, Inc. $AIT

OneDigital Investment Advisors LLC acquired a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 1,519 shares of the industrial products company’s stock, valued at approximately $514,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Torren Management LLC purchased a new position in shares of Applied Industrial Technologies in the fourth quarter worth $25,000. Global Retirement Partners LLC bought a new stake in Applied Industrial Technologies in the 2nd quarter worth $37,000. Anchor Investment Management LLC bought a new stake in Applied Industrial Technologies in the 4th quarter worth $32,000. Smartleaf Asset Management LLC increased its position in shares of Applied Industrial Technologies by 78.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 78 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 1.4%

NYSE:AIT opened at $353.59 on Wednesday. The company has a 50-day moving average price of $338.55 and a 200-day moving average price of $304.85. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 3.08 and a beta of 0.84. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. Applied Industrial Technologies, Inc. has a 12 month low of $238.34 and a 12 month high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.25. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company earned $2.80 earnings per share. Applied Industrial Technologies’s quarterly revenue was up 10.5% on a year-over-year basis. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Equities analysts predict that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Applied Industrial Technologies’s payout ratio is presently 18.61%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the company’s 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 transaction, the director owned 4,951 shares in the company, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AIT shares. Bank of America increased their target price on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, August 14th. KeyCorp boosted their price target on Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer upped their price target on Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Tuesday, July 21st. Finally, Mizuho lifted their price objective 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. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $384.29.

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.