Ieq Capital LLC Purchases New Position in Applied Industrial Technologies, Inc. $AIT

Ieq Capital LLC purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,547 shares of the industrial products company’s stock, valued at approximately $8,977,000. Ieq Capital LLC owned approximately 0.07% of Applied Industrial Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AIT. Compound Planning Inc. grew its holdings in shares of Applied Industrial Technologies by 4.7% during the 4th quarter. Compound Planning Inc. now owns 822 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 37 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Applied Industrial Technologies by 7.4% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock valued at $170,000 after purchasing an additional 45 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Sanctuary Advisors LLC now owns 1,160 shares of the industrial products company’s stock valued at $308,000 after purchasing an additional 50 shares during the period. Focus Partners Wealth lifted its stake in shares of Applied Industrial Technologies by 4.5% in the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 58 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of Applied Industrial Technologies by 0.5% during the fourth quarter. Cetera Investment Advisers now owns 10,900 shares of the industrial products company’s stock valued at $2,799,000 after purchasing an additional 58 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $341.38 on Monday. The company has a market capitalization of $12.53 billion, a P/E ratio of 31.15, a P/E/G ratio of 2.74 and a beta of 0.84. The company’s 50-day simple moving average is $340.04 and its two-hundred day simple moving average is $306.52. Applied Industrial Technologies, Inc. has a one year low of $238.34 and a one year 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 posted its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.25. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. As a group, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Announces Dividend

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

Analyst Ratings Changes

AIT has been the topic of a number of recent research reports. DA Davidson upped their target price on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Tuesday, July 21st. Oppenheimer upped their target price on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Bank of America raised their target price on Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $400.00.

Insider Buying and Selling at Applied Industrial Technologies

In other news, CFO David K. Wells sold 1,812 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. This represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Madhuri A. Andrews sold 3,845 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. The trade was a 43.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Company 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.